Thomas Cook prepares for major expansion

Thomas Cook is getting ready to engage in a campaign aimed at dramatically increasing the travel company’s presence in both France and Canada. The car hire firm will be able to accomplish its newest goal by buying prominent travel agencies in both countries, including France’s Jet Tours and Canada’s TriWest Travel Holdings. The British firm is one of the best known brand names in the UK travel industry and it now appears as though French and Canadian travellers will become much better acquainted with the company as well.

Thomas Cook is reportedly preparing to spend a total of €70 million in order to purchase Jet Tours from its current owner, Club Med. If the deal goes through as planned, Thomas Cook will end up controlling around 10 percent of France’s travel market, and will become the country’s third largest tour operator. The firm is getting to spend millions on buying Canada’s TriWest Travel Holdings as well. According to a report in Britain’s Independent, the purchase price of this wholesale travel company will likely stand at around $114 million, or slightly more than what it will cost to buy Jet Tours.

Jet Tours is a prominent company in France and over the years, it has built up a client base of around 270,000 customers per annum. The firm focuses primarily on arranging holidays at medium and long-haul destinations. Last year, the firm made some €313 million in sales.

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