New York – September 18, 2026 -- Lindblad Expeditions Holdings, Inc. (NASDAQ: LIND) has acquired a 60% majority stake in White Desert, the Antarctic luxury travel operator, and Echo Charlie, a new aviation adventure brand, for an aggregate cash purchase price of approximately $61 million, plus roughly $6 million for cash on the balance sheet, subject to customary working capital adjustments.
Lindblad raises full-year 2026 guidance following the deal
The company lifted its FY2026 outlook to tour revenues of $850 million to $880 million, Net Yield per Available Guest Night of 5.5% to 6.5%, and Adjusted EBITDA of $140 million to $148 million, citing the White Desert and Echo Charlie acquisitions alongside continued core business momentum. CEO Natalya Leahy called the transaction the largest in the company's history.
White Desert brings two decades of Antarctic interior access to the portfolio
Founded in 2005 by polar explorer Patrick Woodhead, White Desert flies clients into the remote Antarctic interior, offering journeys to the Geographic South Pole and visits to an Emperor penguin colony exceeding 20,000 birds. The operator employs more than 150 staff representing 18 nationalities. Lindblad and White Desert plan to expand camp infrastructure, guest experiences, and logistical capacity.
Echo Charlie launches as a new DC-3-based aviation adventure brand
Echo Charlie operates luxury journeys aboard a fully restored vintage DC-3 aircraft capable of landing on remote airstrips, carrying 12 guests at a time to destinations including Colombia, Patagonia, the Faroe Islands, and Greenland. Woodhead will serve as CEO of Echo Charlie and Chairman of White Desert, while also joining Lindblad as Strategic Innovation Advisor.
Baird advised the sellers as Lindblad extends its founder-led brand strategy
Baird served as exclusive financial advisor to White Desert and Echo Charlie in the transaction. Both brands will continue to operate as standalone offerings, retaining founder-led leadership while gaining access to Lindblad's global platform. Mark Ein, Co-Chair of Lindblad's Board, said the deal builds on a decade-long strategy of assembling a platform of experiential travel brands led by iconic founders.