FCM acquires European partner

Monday, 01 Jul, 2019 0

Flight Centre Travel Group (FCTG) has taken ownership of 3Mundi, the French and Swiss partner of its global business travel division, FCM Travel Solutions.

In July 2017, FCTG made an initial 25% investment in 3Mundi, which has been a licensee partner of FCM since 2015. FCTG acquired the remaining 75% of 3Mundi’s business on June 30.

3Mundi was established in 2006 and has grown rapidly since 2012 achieving year-on-year growth of over 35%.

The company’s managing director, Solenn Le Brazidec, will continue to oversee 3Mundi’s day-to-day operations and has been appointed FCM Travel Solutions’ president for France and Switzerland.

FCTG managing director EMEA Steve Norris: "FCM and 3Mundi have enjoyed an excellent partnership since 2015 and we forged a closer bond in 2017 when we first invested in the business.

"We are excited to be investing in this further acquisition which will give FCM an even stronger presence in France and Switzerland.

"Both markets are important corporate travel hubs – in fact France is now the sixth largest corporate travel market in the world. The extension of our relationship with 3Mundi will unlock further benefits both for their local customers as well as FCM’s multi-national clients.

"This is a significant future growth opportunity for FCM and we are delighted that Solenn Le Brazidec will continue to lead the business in the role of president for France and Switzerland."

In addition to the UK & Ireland, FCM’s equity-owned footprint in Europe now extends to Germany, France, Netherlands, Switzerland, Sweden, Norway, Finland and Denmark.

Lisa

Lisa joined Travel Weekly nearly 25 years ago as technology reporter and then sailed around the world for a couple of years as cruise correspondent, before becoming deputy editor. Now freelance, Lisa writes for various print and web publications, edits Corporate Traveller’s client magazine, Gateway, and works on the acclaimed Remembering Wildlife series of photography books, which raise awareness of nature’s most at-risk species and helps to fund their protection.

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