Bidders line up for Thomas Cook’s profitable Scandinavian brands

Tuesday, 29 Oct, 2019 0

Thomas Cook’s Northern European business, which includes its operations in Sweden, Norway, Denmark and Finland, is expected to be sold before Christmas.

A spokeswoman for the Danish unit said it had attracted bids from more than 10 parties following the collapse of the parent company in the UK last month.

Thomas Cook’s Northern European arm includes profitable brands such as Ving in Sweden, Spies in Denmark and Tjareborg.

It has been able to continue to operate since its parent Thomas Cook went into involuntary liquidation in the UK as it is a separate legal entity.

A source close to Ving said: "We’re not surprised there is a lot of interest in buying the brand, it is really very profitable, it’s a cash-cow in fact."

Lisbeth Nedergaard, a spokeswoman for Spies, told Reuters: "We are now closer than ever and it (the process to find a buyer) will definitely be concluded before Christmas."

Earlier this month, a non-binding bid was made from an unnamed investor.

Private equity group Triton, which tried to buy Thomas Cook’s Northern European business earlier this year, is among the interested buyers, according to Nordic media and Sky News, all citing unnamed sources.

Triton, which owns Sunweb, declined to comment.

below social share icons

Linsey McNeill

Editor Linsey McNeill has been writing about travel for more than three decades. Bylines include The Times, Telegraph, Observer, Guardian and Which? plus the South China Morning Post. She also shares insider tips on thetraveljournalist.co.uk

City Cruises is a leading operator of sightseeing, dining and charter services operating in London, York and Poole. We offer...

Celebrating its 30-year anniversary in 2022, Regent Seven Seas Cruises® offers guests An Unrivaled Experience® with every luxury included. Carrying...

The Florida Keys and Key West is a 126 mile long string of Islands connected to South Florida by the...

IHG Hotels & Resorts: Redefining Hospitality Excellence IHG Hotels & Resorts is a globally renowned hospitality company that stands at...

Air Transat is Canada’s number one leisure airline. It flies to some 60 international destinations in more than 25 countries...

Our Mission Ecommerce has transformative powers, and we believe everyone should be able to take part. But outdated solutions and...

The State of Michigan is blessed with the riches of unspoiled nature: the nation’s longest freshwater coastline, lakes that feel like...

In the heart of Europe, in one of the most innovative cities in the world, at the centre of business,...

Nium was founded on the mission to build the global payments infrastructure of tomorrow, today. With the onset of the on-demand...

At Wilderness Safaris we believe in creating life-changing journeys and have been doing so for over 39 years. Our purpose...

WANDERERS WELCOME to MISSISSIPPI Mississippi is a state for all those who are wanderers at heart. From lush, forested Appalachian foothills to...

Discover Punta Gorda/Englewood Beach, also known as the Charlotte Harbor Gulf Island Coast. This natural wonderland is nestled in the...

This is Jersey. An island shaped by the sea where some of the most astonishing tides in the world circle...

Family-owned Olympic Holidays has been arranging holidays to Greece, the Greek islands and Cyprus for more than half century. The company is unrivalled...

Some describe it as a natural playground. Some say, it’s simply unique as it offers a great array of travel...

SOUTH AUSTRALIA. FOR THOSE WHO WANT A LITTLE MORE. South Australia. It’s a beautiful place. A place for the restless,...

With long periods of Thailand’s History, according to evidences and studies, Sukhothai was the first kingdom of Thailand. At that time, an early Thai...