Former National Party member of Parliament Jeff Grant and his wife Julia have bought Lakeland Adventures Ltd from Simon Stewart, who has operated it for the past 12 years.
Among them will be scheduled, hourly services to Ruby Island and Stevensons Arm.
The business will continue to provide jet-boat trips, fishing tours, lake cruises and equipment hire from its base at the Log Cabin on the lakefront.
Mr Grant said there would be a strong emphasis on providing activities for families, and he expected new forms of water craft to be introduced for use on the lake.
"We’ve been looking for about two years for a business in Wanaka and I have to say, for us, this has turned out to be the jewel in the crown," Mr Grant said.
Mr Stewart retains ownership of the catamaran Dual Image and has applied to the Queenstown Lakes District Council to sublease the Log Cabin to Mr Grant.
Mr Grant said he hoped the building could become a hub for a variety of small, Wanaka tourism businesses.
Mr Grant, who farms at Balfour, represented the Southland electorate of Awarua in Parliament from 1987 to 1993 and has held a number of positions in the agriculture industry.
He is chairman of the Milford Sound Development Authority which provides tourism facilities at Milford Sound.
