Lindblad Acquires 60% Stake in White Desert and Echo Charlie for $69 Million

Lindblad Expeditions is acquiring a 60% stake in White Desert, a luxury Antarctic travel company, and Echo Charlie, a new luxury adventure operator flying a refurbished DC-3, for $69 million—its largest acquisition yet. Founder Patrick Woodhead will stay on as chairman of White Desert and CEO of Echo Charlie, and join Lindblad as a strategic innovation advisor. The deal is funded with cash on hand; the company had over $350 million on its balance sheet as of June 30.