FSI Régions backs Travel & Co bolt-on

Travel & Co will keep Nouvelle Zélande Voyages's existing management, staff and structure in place.

The deal also saw AOT Group, an Australian travel company, take a minority stake in Nouvelle Zélande Voyages. FSI Régions retains a third of the shares in the enlarged Travel & Co group.

Previous funding
FSI Régions (then Avenir Entreprises) backed the BIMBO of tour operator Terres de Charme in 2007, acquiring 36% of the equity. The two incoming CEOs took a combined 50% stake, while the founders reduced their interest, but retained an operational role. HSBC and Banques Populaires Rives de Paris provided amortising debt representing about half of the deal's value.

The group has since grown acquisitively, adding on four other brands to its portfolio.

Company
Established in 1997 as Terres de Charme, Travel & Co is a Paris-based tour operator. It operates the Terres de Charme, Iles du Monde, Australie Tours, Alma Latina, Australie Autrement and now Nouvelle Zélande Voyages brands. The group expects to generate a €35m turnover in 2013.

Founded in 1998, Paris-based Nouvelle Zélande Voyages is a tour operator focusing on New Zealand.

People
Delphine Jarnier led the deal for FSI Régions.

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• Topics
• France
• Expansion
• Consumer
• France
• FSI
• Acquisition finance