WHY IT RATES: The Travel Leaders Group has added another retail travel company to its already impressive portfolio.-Donald Wood, Breaking News Senior Writer.
Travel Leaders Group has reached an agreement to acquire Barrhead Travel Group, one of Scotland's largest retail travel companies and one of the largest in the United Kingdom. With more than 75 locations and more than 900 employees and agents, Barrhead will become part of Travel Leaders Group's growing presence in the U.K. and around the world. The transaction is expected to close in the first quarter.
"Barrhead is a great addition to our family of brands. It's an innovative, award-winning travel business that is on a trajectory for continued growth," said Travel Leaders Group CEO Ninan Chacko, CTC. "From its high-touch retail travel superstores to its online presence, Barrhead offers personalized attention, technology tools, highly-trained travel specialists and a wide range of travel products and services."
Due to its leadership position in the U.K. market, Barrhead will retain its distinct brand identity within the Travel Leaders U.K. portfolio. Barrhead's Chief Executive Sharon Munro will continue to manage the business. Her father and Barrhead founder, Bill Munro, will serve in a strategic advisory role as Chairman of the Barrhead division within Travel Leaders Group. No major changes in operations are anticipated.
He continued, "Bill and Sharon Munro have devoted their careers to building this extraordinary business. We're pleased that the Munro family is entrusting the future of Barrhead, its employees, agents, and customers to our organization. We're excited about this chance to expand our presence in Scotland and the U.K. overall and the opportunities this affords both companies."
Terms of the agreement will not be disclosed.
"Joining with Travel Leaders Group will give us the resources to expand into additional markets, access to new technology and the ability to innovate," said Sharon Munro. "This agreement creates exciting new prospects for both our enterprises."
Once the transaction is finalized, Travel Leaders U.K. portfolio will include Barrhead, Colletts Travel, Protravel International U.K. and Tzell U.K., which are among the U.K.'s leading travel companies. Combined, these four brands, together with ALTOUR UK, specializing in entertainment and corporate travel, and its recent merger with Travel Leaders Group Holdings, will rank among the top travel management companies in the U.K.
"Barrhead's successful 'click, call and visit' model and its cadre of highly-trained travel professionals has positioned the company as a leading multi-channel retailer for cruises, custom vacations, and business travel," said Chacko.
Travel Leaders Group is one of North America's largest travel companies - encompassing nearly one-third of all travel agents on the continent. Travel Leaders Group is a leader in both consumer retail travel and global corporate travel and consistently ranks as one of the top travel companies nationwide.
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