Cox & Kings in talks to acquire UK’s adventure travel firm Holidaybreak
26 Jul 2011
Cox & Kings, one of India's oldest travel company is in talks to buy Holidaybreak, the UK-based adventure travel firm, Sky News yesterday reported.
Stock of Holidaybreak soared by more than 18 per cent - the highest in three years, after the Northwich, Cheshire-based travel company yesterday said that it was in discussions with a third party which may or may not lead to an offer.
The paper said that an agreed all-cash takeover offer, valuing London-listed Holidaybreak at £300 million or £450 million including debt, is likely to be announced within days.
Holidaybreak is an education and activity travel group with market leading positions in the UK and other major European markets. It has over 15 long-established and widely recognised brands with leading niche positions in the travel sector such as camping brands Eurocamp and Keycamp, adventure holidays business including the Explore brand, and the Superbreaks hotel breaks division.
Holidaybreak was founded by Alan Goulding in 1973 as Eurocamp Travel Limited, a family- run business offering camping holidays in Brittany, France. The business was sold in 1981 to London based retail group, Combined English Stores.
Eurocamp plc was floated on the London Stock Exchange in 1991 and following the 1995 merger with Superbreak, the company changed its name to Holidaybreak in 1998.
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