Thomas Cook Regulatory News (TCG)

7 Apr 2008 07:00

Thomas Cook Group PLC07 April 2008 7 April 2008 THOMAS COOK GROUP ACQUIRES LEADING LUXURY TRAVEL COMPANY Thomas Cook Group plc ("Thomas Cook") has announced today that it has acquiredthe number one UK-based luxury travel company Elegant Resorts Ltd from itsfounding shareholders, Geoff Moss and Barbara Catchpole. The acquisition hasbeen funded from existing cash resources. Founded in 1988, Elegant Resorts is the UK's market leader in this niche segmentof the market and has a strong record of operational and profit delivery,offering tailor-made holidays to the most luxurious hotels and resorts aroundthe world, with a particular strength in the exotic destinations of theCaribbean, the Indian Ocean and the Arabian Gulf, as well as European luxuryresorts. In 2007, Elegant Resorts carried more than 20,000 passengers and the total grossassets of the Company were £22.3 million. This acquisition fully supports the Group's strategy to strengthen its positionin the independent travel segment and builds on Thomas Cook's current expertisein offering customers high-value luxurious holidays under its Latitude andThomas Cook Signature brands. Under its ownership, Thomas Cook intends to operate Elegant Resorts as astandalone business with the company's current management team in place. Manny Fontenla-Novoa, Group Chief Executive, Thomas Cook Group plc said: "Weare delighted to have secured this acquisition, which allows Thomas Cook tofurther enhance its position in this lucrative and growing segment of theleisure travel market. Elegant Resorts has a very strong brand name, associatedwith luxury, style and bespoke holidays and fully supports our strategic aim tobecome a leading independent travel provider." Ends For further information please contact: Brunswick Group LLP Tel: +44 (0)20 7404 5959 Anita Kidgell Sophie Brand About Thomas Cook Group plc Thomas Cook Group plc was formed on 19 June 2007 by the merger of Thomas Cook AGand MyTravel Group plc. The new company is one of the world's leading leisuretravel groups with sales of around £9 billion (€12 billion), 19 millioncustomers, 30,000 employees, a fleet of 97 aircraft, a network of over 3,000owned or franchised travel stores and a number of hotels and resort properties.It has operations in four regions: UK & Ireland; Continental Europe (Germany,Austria, Belgium, France, the Netherlands, Poland, Hungary, Slovenia andSlovakia); Northern Europe (Sweden, Norway, Denmark, Finland) and North America(Canada and USA); and German airlines operating under the Condor brand. This information is provided by RNS The company news service from the London Stock Exchange