Investor pumps £7m into Scottish coach tour firm Rabbie's

A private equity firm has invested £7m in Scotland-based coach tour operator Rabbie's.

Piper, which specialises in consumer brands, said the investment would help the business remain a market leader in off-the-beaten-track tours.

Founded in 1993 by Robin Worsnop, Edinburgh-based Rabbie's now operates nearly 100 vehicles.

It focuses on taking small groups of travellers on mini-coach tours across the UK and Europe.

Rabbie's struggled during the height of the pandemic, as travel restrictions began to bite.

Last year, Mr Worsnop estimated that the company lost millions of pounds in revenues in 2020, with income down by more than 90% on 2019.

However, the company saw a quick rebound in sales following the lifting of Covid restrictions, with bookings in April this year 25% higher than the same period in 2019.

The firm recently expanded into Europe, with trips in Spain, Portugal, Italy and Switzerland.

Piper's minority investment will see Mr Worsnop continue to stay on the board as a majority shareholder, alongside the core management team.

Hugo Kimber, former executive chairman of adventure tours brand Explore, will join the board as chairman.

In a separate tourism development, an award-winning Perthshire visitor attraction has been acquired by Crieff Hydro Family of Hotels for an undisclosed sum.

Aberfeldy-based Highland Safaris will remain a standalone business within the Crieff Hydro group portfolio, which is owned by the Leckie family.

Opened in 1992 by husband and wife Donald and Julie Riddell, Highland Safaris attracts more than 50,000 guests a year.

The attraction includes boat trips on Loch Tay, a gold panning centre, a red deer centre and walking and biking activities.

Mr Riddell said: "The time is right for us to take a step back and create the opportunity for the business to continue to thrive with the investment and energy Crieff Hydro Family of Hotels will bring."

Stephen Leckie, chairman and chief executive of the Crieff Hydro group, said the acquisition would help it achieve its growth plans and "expand our offering to guests, particularly for visitors at our hotels in Crieff".

The group comprises eight hotels based in Perthshire, Dundee, the Scottish Borders and the Highlands.