Minoan Group has expanded its interest in Scotland with the purchase of Glasgow-based retail agent John Semple Travel for £2 million.
The AIM listed travel and leisure company has already bought King World Travel in March and part of the Stewart Travel Centre in June.
JST specialises in cruise, golf and ski travel and operates via the internet and from one retail outlet and a call centre.
For the year ended 31 March 2011, JST reported profits after tax of £0.2m on a total transaction value of £17.5m and sales of £1.3m. The published net assets of JST at 31 March 2011 were £0.4m.
The Minoan group said it plans to link the brands Cruise Kings and Canada Kings, currently operated by JST, with Cruise 118 and Sunwing Airlines of Canada respectively.
It said the purchase forms part of a strategy to make an acquisition every three months.
Minoan is headed by former MyTravel chief executive Duncan Wilson.
By Diane Evans
