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Travelzest acquires Morocco specialist
Specialist operator Best of Morocco has been sold to acquisitive Travelzest for £2.6 million.
Travelzest CEO Chris Mottershead indicated that further deals could be expected.
Best of Morocco showed an operating profit of £127,351 for the year ending July 31 on turnover of £2.4 million.
Travelzest, which floated on the AIM in October, said Best of Morocco met its criterion of being a niche, quality operator “which will provide a significant contribution to group profits” and extend the portfolio.
The group recently acquired online agency Holiday Express and also includes specialist operator to France, VFB Holidays.
Mottershead, former TUI UK managing director, said: “Despite the fact that this is the second acquisition since flotation, we’ve only just begun.”
He added: “Our focus is on high quality brands which have been able to demonstrate a successful track record during the last two years which has been a difficult period for the travel industry.
“We are delighted to be adding Best of Morocco to our portfolio and believe that this business typifies the type of business we seek to attract to the group.”
Report by Phil Davies
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