Thomas Cook and Co-op Travel to merge
Thomas Cook and The Co-operative Group are merging their travel operations to form the largest high street travel operator in the UK.
Both travel brands will retain their branding but 70 outlets Going Places, Thomas Cook’s subsidiary brand will be rebanded under the Co-operative Travel brand.
The network will include 1,204 high street travel agencies.
Thomas Cook will hold 70% of the joint venture and The Co-op travel will hold the remaining 30%.
Thomas Cook’s online business is not included in the deal and will operate independently from the retail function.
Peter Marks, group CEO of The Co-operative Group, says: “This brings together two of the industry’s most trusted brands. This deal is in line with our wider strategy to grow our businesses through merger and acquisition.”
The new business will be chaired by Manny Fontenla-Novoa with Ian Derbyshire as CEO.
