28th Sep 2006 14:51
Holidaybreak PLC28 September 2006 28 September 2006 HOLIDAYBREAK PLC Acquisition of two German specialist tour operators Holidaybreak, the European specialist holiday group, today announces it hasacquired two German specialist tour operators. This is in line with itsestablished strategy of investing in European specialist holiday companies. The businesses were acquired from the same private owners, founders Thomas Meierand Janine Wegman: carpe diem Sprachreisen GmbH provides English and otherlanguage holidays; TravelWorks GmbH provides working holidays and gap-yearbreaks for students. The businesses, based in Muenster, had a combined turnover of €13.8m (£9.3m) inthe 12 months ended 31 October 2005. The acquisitions are expected to bemarginally earnings enhancing (pre-amortisation of intangibles)* forHolidaybreak in the financial year ended 30 September 2007. The initial consideration of €10m (£6.7m) was paid in cash upon completion.Additional consideration of up to €2m will be payable, dependent upon theperformance of the business over the twelve months following completion. Thomas Meier and Janine Wegman will remain with the businesses, along with theirable and experienced management team. Carl Michel, Chief Executive of Holidaybreak, said: "The acquisitions of carpediem and TravelWorks will provide us with profitable, growing businesses in thelargest travel market in Europe. They will sit within our Adventure TravelDivision, increasing our activities in the rapidly growing 'specialist' sectorof the holiday market. I am pleased to welcome their teams into our group". \* This statement should not be taken to mean that the earnings per share ofHolidaybreak plc will necessarily match or exceed the historic reported earningsper share of Holidaybreak plc and no forecast is intended or implied. Enquiries: Holidaybreak +44 (0)1606 787100Carl Michel / Bob Baddeley Brunswick +44 (0)20 7404 5959James Hogan / Craig Breheny / Ash Spiegelberg Note to Editors Holidaybreak (HBR.L) is listed on the London Stock Exchange. The Europeanspecialist holiday group sold 3m holidays in the year ended 30 September 2005(2004: 2.3m). Holidaybreak has three operating divisions: Hotel Breaks,Adventure Travel and Camping. Each is a market leader in its respectivespecialist sector of the European holiday industry, has multi-channeldistribution and is recognised for providing high standards of product andservice quality. For more information, please go to www.holidaybreak.co.uk. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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