Mon, 02 Aug 2010 | BUSINESS SALE
Directline Holidays has allegedly been placed on the market for £40 million.
It has been recently revealed in a newspaper that the online travel agency’s founders Anthony Bradley and Matthew Flint asked KPMG to seek a buyer for the business. It also emerged that a previous attempt to sell up was put on the backburner two years ago due to the onset of the recession.
According to reports, the Croydon business has attracted the interest of a swathe of private equity firms.
Chief executive Maria Whiteman said: “We have been approached a number of times in the past as a potential acquisition target due to the competitive position of the company and its product portfolio. We don’t engage in comment on rumour or speculation regarding these offers.”
Directline Holidays, a member of the Advantage Travel Centres, has over 70 employees, half of which work in the call centre.
Established in 1992 as a traditional travel agency, the business has been an online only service since 2001. Now one of the UK’s largest independent online travel agencies, it has been rated as one of Britain’s top 10 online travel agencies by Hitwise, and can boast over two million visitors each month.
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