Major balloon company makes out-of-state growth move

Albuquerque-based Rainbow Ryders’ out-of-state market share could rise with the company’s acquisition of Phoenix-based Float Balloon Tours.

The company announced Tuesday that the expansion will bring Rainbow Ryders’ fleet to 33 hot air balloons and allow Rainbow Ryders to fly up to 150 passengers per day, according to a news release. Rainbow Ryders will also partner with Cloth & Flame, a culinary experience company owned by Float co-founders, Matt Cooley and Olivia Laux.

Cooley confirmed the acquisition…

Source: The Business Journal