- Ponant has acquired Aqua Expeditions by taking a controlling stake in the company.
- Aqua Expeditions sails in the Galapagos Islands, Raja Rampat, Komodo, the Spice Islands, the Mekong River and the Amazon River.
- The move marks Ponant’s expansion after the line acquired Paul Gauguin in 2019.
Ponant expands its presence in the small ship luxury segment by taking a controlling stake in Aqua Expeditions, a line that regularly sails the Kimberley and around Australian waters.
Aqua has small luxury vessels in remote regions, such as the Galapagos Islands, Indonesia’s Raja Ampat, Komodo, the Spice Islands, the Mekong River, and the Peruvian Amazon River.
This investment marks a significant step as Ponant expands its luxury fleet into remote regions like the Galapagos, Indonesia’s Raja Ampat, and beyond.
Aqua chief executive Francesco Galli Zugaro will lead the line as a standalone unit, but Ponant, which has strong ambitions to grow its business in the small luxury area, will give Aqua stronger marketing capability.
Ponant is owned by Artemis, a French investment house that also controls many luxury brands, including Gucci, auction house Christies, and Chateau Latour. Ponant has been steadily growing its share of the lucrative small ship market, with luxury vessels carrying around 200 passengers.
The line also owns Le Commandant Charcot, the world’s first luxury icebreaker. Ponant is an Australian favourite with up to three vessels sailing Australia and New Zealand and a substantial office in Sydney.
Aqua sails some of the world’s most biodiverse and culturally rich regions and creates special river ships for rivers like The Amazon.
Small ship cruising is undergoing major growth as millennial cruisers discover the joys of vessels that can go to smaller, less crowded ports and adventure areas of the planet.
But investment from larger lines is also growing, with Royal Caribbean acquiring Silversea and Norwegian Cruise Lines spending billions to grow Oceania and Regent Seven Seas.
Ponant Explorations Group, which is backed by the Pinault family’s investment company Artemis Group, described its stake in Aqua as “a strategic acquisition”. The line has been seeking growth acquired Paul Gauguin and attempted to launch a joint venture with the Paspaley family in the Kimberley.
Herve Gastinel, Ponant Explorations Group chief executive, was quoted in trade websites in the UK as saying: “This partnership aligns perfectly with our vision of excellence and sustainability in the luxury sector.
“It reflects our commitment to offering unparalleled travel experiences in iconic destinations such as the Galápagos and now also river journeys, while preserving the natural beauty of the places we explore.”
He added: “We’re deeply impressed with the exceptional company that Francesco has built over the past 18 years and the unique brand he has developed in the experiential travel space.”
Aqua is reportedly looking for growth in East Africa, the Seychelles, and Tanzania.