Abercrombie & Kent has acquired rival luxury operator Cox & Kings for an undisclosed sum.
A&K said the deal will safeguard all jobs and current and future bookings.
Cox & Kings UK recently began looking for investment after parent company Cox & Kings Limited (India) experienced financial difficulties.
Last month, Abercrombie & Kent revealed it was in advanced discussions about acquiring the UK arm of Cox & Kings, saying the two brands “complement each other”.
David Pike and Will Wright from KPMG’s restructuring practice were appointed joint administrators to Cox & Kings Travel Limited on Wednesday and sold the business and its assets to C&K Luxury Travel Limited, part of the Abercrombie and Kent Group.
All 66 staff employed by Cox & Kings Travel will transfer to the new owner.
David Pike, partner at KPMG and joint administrator, said: “We are pleased to have been able to secure this deal with Abercrombie & Kent, which not only provides reassurance and continuity of service for customers, but which safeguards the jobs of Cox & Kings’ experienced team.
“Cox & Kings is a heritage brand, with a fascinating history and a proud tradition in the luxury travel market. It is satisfying to see a solution for the UK business, given the challenges faced by its parent company in India.”
Kerry Golds, managing director of Abercrombie & Kent, said: “We’re committed to investment in Cox & Kings. It’s a renowned brand with an experienced and dedicated team that I’m looking forward to working with. I’m confident that with their strong trade relationships and loyal client base, we can take Cox & Kings to the next level.”
Geoffrey Kent, A&K founder and co-chairman added: “I am excited to be adding the Cox & Kings business to the Abercrombie & Kent family. The acquisition expands our portfolio of product offerings in the UK, particularly with their established escorted touring programme. This is just the start of our growth plans in the UK and globally.”
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