CHICAGO, May 8, 2025 -- Great Rail Journeys, a leading provider of luxury tours serving over 40 countries globally, announced that it has been acquired by UK-based private equity firm Vitruvian Partners. Great Rail Journeys is the parent company of Chicago based Vacations By Rail®, North America's premier small group and independent tour operator and trusted authority on rail. The acquisition will see the departure of previous investors Duke Street Capital, and the current management team, led by Great Rail Journeys' CEO Dave Riley, will remain.
Great Rail Journeys was founded in York, England in 1973 as a family-run business focused on rail tours for UK travelers in the UK and Europe and grew to its current position of offering more than 400 itineraries around the world and becoming the global provider of premium experience-led travel. In 2019, it acquired Vacations by Rail to tap into the growing United States travel interest.
"We have tripled the size of our US business, achieved market leading growth in the UK, and grown beyond rail with the addition of European river cruises and wider land touring program. For more than 50 years, we have set the standard in tours for both new and returning customers, and I am excited about the next chapter of our journey. I look forward to working with Vitruvian to deliver on our growth ambitions," said Riley.
Vitruvian Partners is a global investor in the travel and travel tech sector, with current investments including Travel Counsellors, Sykes Cottages, Civitatis, Klook and OAG, in addition to prior investments in Skyscanner and JacTravel.
Ben Johnson, partner at Vitruvian Partners, said, "We are excited to partner with Dave and his team and share their ambition for the company to become the global market leader in escorted travel for those who enjoy discovering magical destinations by rail and river."
Liz Owens, SVP & General Manager of Vacations By Rail said, "Today marks a momentous next step for our company. Our business has been through an impressive growth transformation in recent years. This acquisition supports our long-term objectives and ensures our shared commitment towards giving our customers the best travel experience possible."
The Great Rail Journeys family of brands has grown transactional values by extending its range of tours. The US acquisition of Vacations By Rail will enhance the company's more than 50 years of experience as a global tour operator. This acquisition by Vitruvian Partners will further the momentum seen across the UK and US markets.
For more information on Vacations By Rail or the Great Rail Journeys family of brands, please visit vacationsbyrail.com and visit the About Us section.
About Vacations by Rail®
Vacations By Rail® is a premier small group and independent tour operator and the trusted authority on rail. Vacations By Rail offers adventurers a complete range of itineraries, including the largest selection of independent rail vacations, escorted rail tours, and rail and cruise vacations. Vacations By Rail is part of UK-based Great Rail Journeys, an award-winning tour operator with 50 years of experience designing global train vacations. The Great Rail Journeys family of brands, which also includes Rail Discoveries, is backed by Duke Street Private Equity. For additional information on Vacations By Rail and its collection of rail tours, visit www.vacationsbyrail.com.
About Great Rail Journeys
With more than five decades of experience, York-based Great Rail Journeys Ltd offers over 400 itineraries to destinations all around the globe. Great Rail Journeys caters for a growing demographic group of culturally interested 55+ year-old travellers who typically prioritise travel spend within their household budgets. Popular escorted itineraries include witnessing the Swiss Alps from the Glacier Express, exploring the Scottish Highlands onboard the Jacobite steam train, and discovering India's Golden Triangle on the luxurious Maharaja's Express. Since 2018, Great Rail Journeys has expanded its offering to include European river cruises. For more information, please visit www.greatrail.com.
About Vitruvian Partners
Vitruvian Partners is a global growth-focused investor with offices across London, Stockholm, Munich, Madrid, Luxembourg, Mumbai, Singapore, Shanghai, Miami, and San Francisco. Vitruvian focuses on dynamic situations characterised by rapid growth and change across asset-light industries. Vitruvian has over $20 billion of active funds which have backed many global winners and leaders in their sectors, including Just Eat, EasyPark, Trustpilot, Skyscanner, Wise, Global-e, CFC, Darktrace, and Bitdefender. For more information, please visit www.vitruvianpartners.com.
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