HLO will purchase 100% of Express Travel Group (ETG) in Australia and New Zealand from owners Tom Manwaring and Sintack Pty Ltd for $70m.
ETG has been bought by Helloworld this morning, an operation that boasts air ticket consolidation, retail travel, and wholesale cruise packages through brands like Express Tickets, Creative Cruising, italktravel & cruise, to name just a few.
The acquisition will be funded by a mixture of shares and cash, however still needs to be formally approved by shareholders.
Tom Manwaring will remain as CEO and Director of ETG following the purchase.
More details in today’s issue of Travel Daily and Cruise Weekly.