Welsh miniple Tailor Made Travel is to acquire four branch agency Regal Travel in south Wales.
The deal, for an undisclosed sum, will see Tailor Made Travel take ownership of the 35-year-old family owned business from June 1.
It will bring the number of Tailor Made Travel’s branches to 14, with around 70 staff.
All employees at Regal’s four branches in Bridgend, Maesteg, Porthcawl and Port Talbot will remain with the business. Current Regal Travel head Helen Tustin will join Tailor Made Travel’s board in an expanded role as managing director.
Tailor Made Travel chief executive Simon Morgan said: “Regal is a great fit for us. The stores are well-run, upmarket and sell a lot of tailormade holidays. They have a great team of enthusiastic staff. “
Morgan said Regal had been “on our radar for some time” and he had approached the business about a sale.
He added: “It’s no secret that we have avoided [expansion into] towns where Regal operated with a view to an acquisition or merger.”
The Regal Travel branches will be rebranded Tailor Made Travel at the end of the summer, when a tour operating arm is also planned under the name Regal Holidays, a salute to the former agency brand.
Tustin said: “We are two great Welsh firms that together will strive forward. Our staff are excited to be joining forces with Tailor Made.”
Tailor Made Travel has enjoyed rapid growth over the last two years, opening 10 stores. The company is just over half way through a three year expansion strategy, with a target of 25 stores to become the largest independent agency in Wales. Revenue has increased from £1 million a year with one store to more than £25 million.
Morgan added: “We are not stopping there; we will become the number one travel retailer in Wales. The high street is not dead.
“Our friends at Cook and Tui are some of our biggest suppliers. There is room for all of us on the high street where an independent product range is also essential to maintain an industry.”
Morgan said growth was coming from sales in experience-based holidays such as touring, multi-centre trips and cruises, which were generally more difficult to book online.