S8 plans to take over Gullivers Travel Group, New Zealand’s biggest travel group.All-cash deal to acquire Gullivers Travel Group’s 280 shops.
Earlier there was plan to sum up with Sir Richard Branson’s Virgin Group to launch specialist travel agencies.
S8 chairperson Jenny Hutson quipped;
We’re creating a momentum... like riding a series of waves.
Gullivers is one of the biggest travel agencies which makes about 120,000 bookings a year for holiday. Gullivers managing director and biggest shareholder Andrew Bagnall has agreed to sell his 26.8 per cent stake in the company and join the S8 board.
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