Thomas Cook Acquires Essential Travel

It was announced this week that Thomas Cook, the second-largest leisure travel group in the UK, has acquired 100% of Think W3 Limited, owners of Essential Travel.

The move to acquire Essential Travel is in line with Thomas Cook’s strategy to become a leading travel-related services provider by expanding their online presence in this sector.

The purchase price was not revealed, but Essential Travel is one of the leading suppliers of travel-related products in the UK, with gross assets of £2.5 million reported for the financial year that ended 31 March 2009.

Manny Fontenla-Novoa said, “We continue to believe a strong position in the direct travel insurance market is strategically important.  Furthermore, we expect that together with the experienced directors of Essential Travel, we can build upon our respective strengths to enhance Thomas Cook’s position in both travel insurance and other travel services such as airport parking and airport hotels.”

The acquisition is subject to FSA approval, which is expected to complete shortly.

Tags: airport hotels, airport parking, Essential Travel, Thomas Cook, Travel Insurance

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