Holidaybreak on verge of buying Rainbow Holidays

Holidaybreak on verge of buying Rainbow Holidays

HOLIDAYBREAK is set to complete the acquisition this week of UK short-break operator Rainbow Holidays from First Choice.

The two companies have been in talks for several weeks and are believed to have finally agreed a price.

Holidaybreak and First Choice declined to comment, but sources said it was a done deal after Holidaybreak beat off interest from Internet company Nextweekend.com.

“It already owns Superbreak and buying Rainbow Holidays will automatically take one of its competitors out of the market,” said one industry source.

York-based Rainbow Holidays has only been part of the First Choice group since March last year when the Crawley operator acquired it from West Midlands Co-op.

But it now considers the domestic market not to be part of its core business.