Portman Travel has agreed in principle to acquire the assets of P&O Travel from Carnival PLC.
The acquisition will increase Portman’s busness by around 30%.
Portman Travel turned over approximately £200m in 2005 while P&O Business Travel billed approximately £60 million in the same period.
Both are shareholders of Radius, the global network of travel management specialists.
Portman chief executive Graham Flack said: “We know P&O Travel well via Radius. The two businesses share a passion for high levels of professionalism and a commitment to providing service via local teams with local focus.”
He said Portman has a proven track record of successfully integrating other travel management companies into its business, including AA Business Travel, John Cory Travel and Travelforce.
“Increasingly, customers are demanding both the cost-effectiveness that comes with scale and the high levels of customer service and flexibility associated with independents,” said Flack.
The deal will be finalised after a period of consultation over the next few weeks. The terms of the deal are not being disclosed.
P&O Travel has offices in London, Heathrow, Southampton and Liverpool plus client implants.
By Bev Fearis
