Acquisitive luxury travel group Western & Oriental has acquired South American Experience for more than £1.7 million.
The London-based specialist is described as a profitable business offering tailor-made travel to Cuba, Mexico, Central and South America, including the Falkland Islands and Antarctica.
The purchase is the group’s fifth since floating on AIM in March 2006 in pursuing its strategy to lead consolidation of the luxury travel sector, the company said.
A W&O statement said: “The acquisition perfectly fits Western & Oriental’s acquisition criteria: it extends the group’s product offering geographically with the addition of South American product which is not currently available elsewhere in the group.
“Through re-locating the acquired business into the group’s principal office in Victoria, it will also increase profitability immediately. The acquisition further increases the scale and reach of the group, enabling it to take advantage of cost synergies and cross selling opportunities to its enlarged customer base.
W&O chairman David Howell said: “South American Experience is an excellent addition to the Western & Oriental Group and adds some exciting and unique product from South American Experience’s specialist Central and South American portfolio.
“The business will be re-located a short distance to the group offices in London delivering cost synergies immediately and both parties expect to create organic growth opportunities through cross selling the enlarged group’s range of luxury travel products.”
Report by Phil Davies
