Experience Co Limited (ASX:EXP) agreed to acquire business assets of The Maria Island Walk on April 20, 2021. In related transaction, EXP agreed to acquire business assets of Wild Bush Luxury. Consideration for both acquisitions is AUD 5.3 million with initial cash consideration of AUD 4.3 million and total cash consideration of up to AUD 5.3 million over the period to April 2023 subject to earn out arrangements. The acquisitions are to be funded from existing cash reserves with customer deposits, a key working capital source for the category, to be assumed by EXP as part of the transaction.

The transactions are expected to complete by June 2021.