Broads Ventures Limited has successfully completed the acquisition of Norfolk Broads Direct Holdings Limited, the parent company of Norfolk Broads Direct and Broads Tours, in a multimillion-pound deal.

The acquisition was led by Greg Munford, who has formed Broads Ventures Limited in partnership with Paul Richardson to purchase the shares in Norfolk Broads Direct Holdings Limited.

Norfolk Broads Direct is a major operator in the Broads National Park, with a fleet of 60 high-quality holiday hire cruisers, four passenger river trip boats, and more than 50 dayboats, alongside a portfolio of waterside holiday properties. The company employs around 50 staff and welcomes over 115,000 guests each year to experience the unique beauty of the Broads National Park.

The Directors of Broads Ventures bring a wealth of experience in operating within the Norfolk Broads and the wider UK leisure and marine industries.

In addition to his role as Chief Executive of a local holiday and leisure company, Greg Munford has served as Chairman of Southampton International Boat Show, President of British Marine, Chairman of Broad Tourism and an 8-year term as a Secretary of State appointment to the Broads Authority, providing extensive leadership across national and regional marine sectors.

Paul Richardson has dedicated more than 34 years to his family business, with a comprehensive understanding of marina operations. As an experienced Director and Shareholder, his strong family values will be central to shaping the company’s long-term investment strategy.

As part of the acquisition, Ruth Knight will join the Broads Ventures Limited Board as a Non-Executive Director. Ruth brings a wealth of experience to the role, having previously served as Chair of Visit the Broads, where she has played an important part in championing the destination and its tourism economy. With her deep knowledge of the sector, and a shared passion for the Broads National Park, Ruth is a true ambassador for both Norfolk Broads Direct and the wider Broads National Park.

Speaking on behalf of Broads Ventures Limited, Executive Chairman, Greg Munford said:

“We would like to thank Len, Hazel, and Ruth for giving us the privilege of acquiring the business, and greatly value Craft Leisure’s investment in Broads Ventures as the chosen buyer. The trust that Len has shown in us by giving us the opportunity to continue his legacy of a true pioneer and innovator of modern-day Broads tourism is a responsibility not lost on us. We are committed to nurturing and building on the brand and the strong reputation that Norfolk Broads Direct has for delighting its guests, and we look forward to working with the team to fulfil our purpose – Enabling people to fall in love with the Broads National Park.”

On behalf of Norfolk Broads Direct, Len Funnell added:

“We are delighted that we have found new owners who, like us, share a long-term vision to grow the company for many years to come. I would like to extend my heartfelt thanks to the dedicated team who have worked alongside myself and my family – some of whom have been with us through both periods of ownership. Their loyalty and commitment have been instrumental in building the strong reputation Norfolk Broads Direct enjoys today. Although stepping away from the helm we are still involved as we look forward to continuing to be a part of this next phase of growth with Craft Leisure’s investment in Broads Ventures and with Ruth’s role on the Board.”