Thomas Cook and Co-op in holiday business merger

first_img Read This Next’Kevin Can F**k Himself’: Here’s Why Only Allison and Patty Are SeenThe Wrap20 Stars Who’ve Posted Nude Selfies, From Lizzo to John Legend (Photos)The Wrap’Batwoman’: Wallis Day on Circe’s ‘Deranged’ Warpath and the Key to SavingThe Wrap’Godzilla vs Kong’ Reaches $100 Million in US After Grossing $250,000 inThe WrapJoin a Conversation on ‘Cancel Culture in Comedy’ with Maz Jobrani, SkyeThe WrapAnya Taylor-Joy, Ralph Fiennes Join Searchlight’s Dark Comedy ‘The Menu’The WrapAfter ‘Black Widow,’ Kevin Feige Leaves Open the Possibility of OtherThe Wrap’Pose’ Creator Steven Canals on Life After His Groundbreaking Show: ‘I’mThe Wrap’The Boys’ Star Aya Cash Took Inspiration From YouTube, TikTok and SteveThe Wrap Thomas Cook Group and The Co-operative Group have agreed a merger of their high street travel and foreign exchange businesses. The deal will create the UK’s biggest high street travel operation with 1,200 shops.It is estimated that the pair can save a total of £35m in costs through the agreement.Under the merger, Thomas Cook and The Co-operative Travel will have a combined base of 4.3m customers. John Dunne Show Comments ▼ The pair estimate that its retail businesses will deliver operating profit of £12.4m and £0.1m for the twelve months ending 30 September 2010 and 1 January 2011. Thomas Cook and Co-op in holiday business merger Thomas Cook will have 70 per cent of the shares in the new company and the Co-operative Group will have a 30 per cent. No cash will change hands.Thomas Cook Group CEO, Manny Fontenla-Novoa will serve as Chairman, Ian Derbyshire will serve as chief executive and Paul Hemingway as finance director.Fontenla-Novoa said: “This transaction represents a significant consolidation opportunity in the UK travel market and, by joining forces, we will create the country’s largest high street travel network and reach a far wider customer base. “By consolidating the high street in tandem with delivering on our existing e-commerce targets, we are realising our strategic aim to increase in-house distribution and strengthening our proposition to consumers.” Friday 8 October 2010 2:39 amcenter_img whatsapp whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times Tags: NULL Share last_img