Leading yacht charter and watersports beach club operator Sunsail has been acquired by First Choice Holidays PLC
Leading yacht charter and watersports beach club operator Sunsail has been acquired by First Choice Holidays PLC for an initial consideration of ’35 million plus a deferred consideration of up to ‘5 million.
Sunsail is the market leading specialist tour operator in the sailing holiday market. It operates principally in the Mediterranean, Caribbean, UK and the Indian Ocean. The Sunsail group of companies provides bareboat and flotilla sailing holidays, watersports beach club holidays, corporate sailing, sailing schools and third party yacht sales.
Commenting on the acquisition, Peter Long, Chief Executive of First Choice said:
“Sunsail is an excellent fit for First Choice and we are delighted to welcome it to the Group. It is the leader in a growing market where it has a strong brand and reputation not only in the UK but also in the United States and Europe. This acquisition brings synergies and a further international dimension to our business taking First Choice into a market where we were not previously represented. Sunsail will benefit from being part of a vertically integrated group where it will be able to leverage off Air 2000 and First Choice’s own distribution capability”
Chris Gordon, Managing Director of Sunsail said: –
“Being part of First Choice will enable us to continue to grow the business into new areas of operation and also take advantage of the natural synergies between the two companies.
“Our clients can be assured that it will be business as usual and we shall continue to give the same personal service that we have always been renowned for since the early days. I look forward to being able to offer them even greater choice in the future now that we are part of a larger tour operating group.”
Note: This statement should not be interpreted to mean that earnings per share will necessarily be greater than those for the preceding year.