Chester-based Vedere was founded in 2023 by Alex Catton and has grown into a multi-million-pound business. It will use the investment "to accelerate its growth further".

James Cole, Founder and Chief Executive of Panache, said the wider Panache Travel Group business was actively looking at further investment opportunities "as part of a wider strategy to expand into other areas of the travel industry".

“There’s always been a masterplan to reach out to find and work with like-minded businesses and founders who want to grow their business," said Cole. "We think there’s an opportunity to expand what we do beyond the cruise industry into other areas of travel."

Update: Vedere vows to grow trade as share of business past 50%

Cole said Vedere was a good fit with the two brands sharing "similar customer demographics" while operating in a different space within the travel industry.

He described Catton, who previously worked for ITC Travel Group, as "a prime example of a founder who has exceptional knowledge and talent but needs some support in scaling it to the next level".

"We can really help Alex grow his business," said Cole. We can work together on projects that include cruises and sporting events. We can cross promote what we do.

"We want to provide the opportunity for Alex to plug Vedere into Panache Travel Group’s infrastructure and tap into our experience of scaling."

Founded in 2020, Panache Cruises has grown its turnover to £60 million and has expanded its operation with offices in the US and Australia.

'We want to mirror their growth'

Vedere has successfully tapped into demand for Formula 1, which now accounts for around 40% of its overall business. "We have official relationships with seven of the Formula 1 teams which means we can get you into that team garage to meet the drivers, mechanics and team principal pre-race and over the weekend," said Catton.

"We also have direct access to a number of different sports including football, golf, tennis, rugby and cricket. We are a premium tour operator. We cover all of the flights, hotels, transfers and tickets. That’s our niche.

"The key element for us is we have direct access to all of our tickets. We don’t use middlemen or third parties. We’re not trawling Viagogo or Ticketmaster. All our tickets come directly from the source. You’re guaranteed to get your tickets."

Catton said Panache's investment would allow him to keep running the business while leveraging Panache's experience of scaling a business. "I’ve known James since 2019 but I hadn’t appreciated how fast Panache had scaled, going from nothing to £60 million in six years," he added. "That’s what I want for Vedere.

"I’m already getting those advantages that come with working with Panache. We want to mirror their growth. Hopefully in five years’ time we will have significantly scaled Vedere Travel."