AIM-listed Minoan Group has announced two new acquisitions: Classic Travel Limited and Golf Concierge.
Classic Travel Limited, trading as Classic4Travel, is an award-winning specialist travel agent with over 30 years? experience. It serves both the leisure and corporate markets and has arranged travel packages for companies including multi-nationals such as Shell and O2.
Classic has two offices, in the Glasgow commuter towns of Uddingston and Helensburgh, as well as a growing network of home-based agents operating from London, Leeds, Lisburn, Edinburgh, Belfast and Falkirk.
It also incorporates Lotus Travel, the same-sex travel agency brand specialising in holidays to exclusive specialist resorts.
Minoan said the company was trading profitably with gross revenues of ?2.7m. It will pay up to ?600,000 for the business, dependent on meeting?targets over the next two years.
Golf Concierge, meanwhile, generates revenue from the sale of specialist world-class golfing breaks both to UK inbound and outbound tourists, offering more than 50 courses and associated resorts across 17 countries. Terms of this deal were not disclosed.
Minoan also issued a trading update for the 52 weeks to 31 October.
Chairman Christopher Egleton said: ?The group has had a successful year in the travel business and has also made major progress with its project in Crete.
?Group trading for the financial year just ended was in line with management expectations. The travel division achieved profits during the period in excess of those achieved during the comparable prior year and the new financial year has started well, positioning us for further growth.
?We look forward to making continued progress across the Group while we examine further acquisition opportunities.?
For the full statement from Minoan click here.
Source: http://www.e-tid.com/minoan-continues-on-acquisition-trail/65886/
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