Hays Travel has acquired Cruise.co.uk parent Victoria Travel Group, adding to its growing portfolio of travel retail businesses.
The deal, which strengthens Hays’ position in the online cruise retail market and is the agency’s first OTA acquisition, also covers the Seascanner brand and Victoria Travel Group’s German division Kreuzfahrtberater.de.
The acquisition results in the exit of existing majority shareholder Bridgepoint and comes after Victoria Travel Group reported a total transaction value of £252 million in its most recent financial year.
Existing chief executive Chris Gardner will continue to lead the business, alongside group chief financial officer Carl Tromans, UK managing director Tony Andrews, and German managing director Tom Reiter.
The deal is Hays’ seventh acquisition since 2019 and follows its recent acquisition of 12-branch Spear Travels, which saw it take on the agency’s 70 staff and its homeworker network in June.
The acquisition was the first of Hays Travel’s new financial year and came a year after its takeover of Miles Morgan Travel.
In the last two years, Hays Travel has also acquired Just Go Travel and Travel House, as well as adding five stores to its retail network.
Dame Irene Hays, owner and chair of Hays Travel, said: “We have been hugely impressed by the strength of the Victoria Travel Group.
“Their innovative approach to online cruise retailing and the calibre of their management team make Victoria Travel a compelling addition to our business, which aligns with our cruise strategy and growth ambitions.”
She added: “We are delighted to welcome Chris, Carl, Tony and Tom to our Hays Travel group; they share our values and are all exceptional at what they do.
“We look forward to working alongside them, exploring opportunities and learning from each other as we seek to continuously improve the choice, experience and value we offer our customers.”
Gardner said: “We’re delighted to be joining the Hays Travel family. Their values, customer-first approach, and long-term vision align with ours.
“This partnership opens up exciting opportunities to grow our brands and deliver even more value to cruise customers in the UK and internationally.”
Cruise.co.uk was formed in 2007 after former Airtours managing director Seamus Conlon acquired the agency from Carnival Corporation.
During a period of growth it gained three sets of private equity backing, from Forward Group, Risk Capital Partners and Bridgepoint, which invested in 2016.
In 2017 it acquired Kreuzfahrtberater to expand its European presence.
Conlon stepped down from the company in 2019 and was replaced as chief executive by former Which? managing director Gardner.
In 2022 it unveiled a bookable website and in February 2023 launched a standalone luxury division, while also reporting significant growth in river cruise sales.
Hays Travel chief operating officer Jonathon Woodall-Johnston and non-executive director and established cruise executive Jo Rzymowska will join the Victoria Travel Group board as non-executive directors following the acquisition.
