Big Red Group, the parent company of experience gift provider Red Balloon, has announced the acquisition of another player in the experience retail space, Adrenaline.
Adrenaline offers experiences such as skydiving, helicopter and small plane rides and hot laps in motorsport cars.
Billed as “Australia’s longest running adventure site”, it was purchased in 2008 by internet entrepreneurs Amelia Jones and David Jellins.
— email@example.com (@NaomiSimson) November 12, 2018
Big Red Group is open to further acquisitions
Big Red Group (BRG), co-founded by Shark Tank Australia star Naomi Simson and David Anderson, has several subsidiaries, including Red Balloon and Redii, which offers experiences for B2B reward and recognition programs.
Simson said the acquisition “brings a new adventure-focused audience to the BRG”.
“We see momentum and demand building for experiences that serve different purposes for our customers – from gifting to team events, bucket lists, travel and the ‘things to do’ market.
Simson said Red Balloon currently works with around 3,000 experience supply partners in Australia and New Zealand, mostly small businesses.
This is the first acquisition for BRG, but Simson said the group was exploring acquiring a number of other brands, both domestic and international, to add to its portfolio of online experience retailers.
“Our job is to make sure each customer is being served appropriately, while also growing the business for our partners and deepening our engagement in the experience category,” Ms Simson said.
“We’re committed to staying at the leading edge of technology and have invested greatly in infrastructure to build a globally scalable platform. An investment justified by the economies of scale achieved in serving different audiences from the one system.”
The two brands will remain separate entities. Adrenaline has moved its operations into the BRG head office in Sydney.
Naomi Simson: Pioneer, mentor, Shark Tank Australia investor
It was recently announced the show will not return for a fifth season, but it provided a high-profile platform for entrepreneurialism and its quintet of investors mentored and funded a number of successful businesses.
Simson has also been one of the expert panelists judging The CEO Magazine’s Executive of the Year Awards.