Thomas Cook to buy Union Travel?
By LES BLOXHAM. travel editor The world-wide Thomas Cook organisation is negotiating to buy New Zealand’s biggest chain of I.A.T.A. accredited travel agencies, Union Travel, Ltd. Plans for the take-over are ■ belived to be in the final stages and an announcement from Thomas Cook’s head office in Australia is likely in a few days. Informed sources within the travel industry estimate that the deal will be worth well in excess of $1 million. Union Travel has about 25 agency outlets in New Zea--land, Australia, and London, and employs more than 230 people. Thomas Cook, which has a vast network of agencies throughout the world, has
seven retail agenices in New Zealand.’ If its bid is successful, Thomas Cook will become the biggest and most powerful travel organisation in New Zealand. Mr Brian Avery, the company’s deputy manager in Auckland, confirmed last evening that discussions with Union . Travel were continuing. Some loose ends still had to be tied up, he said. Mr Ken Keech has already resigned from his post as general manager of Union Travel and is believed to have accepted a post with an Australian airline. A take-over by Thomas Cook will not affect any Union Travel clients booked for overseas trips. Union Travel is a subsidiary of the Union Shipping Group, Ltd.
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Press, 7 May 1982, Page 4
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220Thomas Cook to buy Union Travel? Press, 7 May 1982, Page 4
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