Travelzest makes another acquisition
The AIM-listed travel company snaps up the Malaysia Experience
AIM-listed Travelzest plc, the specialist holiday company, has made another acquisition as it continues to grow its business.
The company has acquired the assets of The Malaysia Experience, which was run by the Bob Mortimore Travel Limited, for £45,000.
The company’s brand will be maintained and it will operate as part of Travelzest’s Faraway Holidays business, a specialist in luxury tailor-made holidays and tours to Vietnam, Cambodia, Bali and Thailand.
The acquisition extends Faraway Holiday’s expertise and knowledge into Malaysia, introducing a range of new destinations across the country.
Travelzest also believes that the expanded customer base presents a number of cross-selling opportunities and its enhanced product range will appeal to a wider audience.
Faraway Holidays was launched by Travelzest in August 2006 and as of last October 2007 had achieved turnover in excess of £1.5m.
Chris Mottershead, Chief Executive of Travelzest, said: “The Malaysia Experience brand is an excellent fit with Faraway Holidays, with both having built a reputation for providing high quality, tailor-made holidays.
“This is a great opportunity to enhance the range of destinations offered by Faraway Holidays, our Far East specialist, and to continue to develop this business.”
Previous acquisitions by Travelzest include the opera holiday company JMB Travel and the Canadian firm iTravel 2000.
© Crimson Business Ltd. 2008