Spear Travels founder Peter Cookson described Broads Travel as ‘a good geographical fit’ as he announced his intention to buy the Midlands-based travel agency.
Cookson said the purchase should be completed by May 23.
He said Broads Travel, which has two shops in Sutton Coldfield and Lichfield and a business travel division, would continue to trade under its own name as part of the Spear Travels Group.
The acquisition gives the Group a total of 13 branches in addition to its homeworking division and a new business travel arm.
Cookson said the acquisition was larger than others it had made. Previously it has only bought single outlets with a turnover of up to £1.5 million.
"They are a good geographical fit for us as we already have branches in the area at Wolverhampton and Stoke," he said.
"They will continue to trade as Broads Travel as they are so well known in the area."
All staff will be retained. "They have a wealth of experience and we will make whatever investments are necessary to grow the business," added Cookson.
"All in all, it’s good for both companies and we are delighted to welcome them into the Spear Travels Group."
