The specialist operator was sold by previous private equity owner ECI to Duke Street for an undisclosed sum on July 2, with GRJ’s current management team staying in place.

Peter Liney, chief executive of GRJ, told TTG that Duke Street’s ownership would allow the operator to expand the new river cruise programme more quickly than previously planned.

“It will accelerate our entry into the river cruise market,” he said. “We have been doing a little bit of river cruise and in 2019 we are doing some full ship charters, which have been doing really well.”

Liney stressed the importance of agents in the expansion plans and his hope a wider river cruise programme would make GRJ’s product offering “less niche”.

“It should make it easier for agents to sell and hopefully that will make agency sales a bigger part of what we do,” he said.

Liney added GRJ would continue to operate from its York base after the change of ownership.

“We have no plans to change that,” he said. “We remain incredibly committed to the UK – that’s crucial to us.”

GRJ will also speed up the process of “internationalising” its business, with plans to expand further in the US.

“We have a small operation in New York and this will really accelerate [the move into the US as a source market],” said Liney.

“We already have a great partnership in Australia and we will be staying with that.”

As part of Duke Street’s acquisition, former Thomson Travel Group chief executive Charles Gurassa will be appointed as GRJ’s chairman.