First Choice buys US operators

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27/04/2006

First Choice buys US operators

UK travel giant First Choice has strengthened its global presence with four acquisitions in the educational group travel sector in North America for GBP16 million ($37.6 million).

The company has bought Educational Tours, based in Chicago, and Canadian educational tour operators School Voyageurs, Educa Tours and Jumpstreet Tours, establishing a further foothold in the Canadian market.

The businesses provide national curriculum-based tours to middle and high school students (11-15 year olds) primarily to US destinations.

The First Choice Group said the student travel market in North America was a key growth area.

In November last year First Choice revealed it had acquired adventure tour operator Peregrine for GBP19.5 million ($46 million). The deal was completed on July 22 but revealed only when First Choice presented its first-quarter results to the UK market in November.

The acquisition of Peregrine was part of a GBP68 million ($161 million) buying spree which netted First Choice 11 companies.

Among First Choice's other purchases were Peregrine's rival adventure tour operator, The Imaginative Traveller (Imtrav) for GBP6.5 million ($15.3 million) and Denmark-based operator MyPlanet for GBP7.1 million ($16.7 million).

In March this year, MyPlanet bought Sydney-based Scandinavian specialist Bentours, giving First Choice another link with the Australian market.

First Choice owns retail travel agencies, wholesalers, tour operators, hotels and charter airlines primarily in the UK and Europe.

A trading update from First Choice Holidays, released yesterday, said summer sales for its mainstream business were up 7 per cent in the past five weeks, with rates of sale and margins described as “particularly strong”.

27 April 2006

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