LIBRA Holidays has acquired a 75% stake in long-haul operator Goldenjoy.
The deal was made this week after three months of talks.
Libra managing director Andreas Drakou confirmed discussions have been on-going but declined to reveal details.
But sources said Libra wanted to expand and had reached saturation in core Greece and Cyprus markets.
One said: “It is impossible to keep growing in existing markets, especially in countries like Greece and Cyprus which have mass-market appeal.
“The acquisition will give Libra an entry into the long-haul market,” said the source.
London-based Goldenjoy specialises in Egypt, diving and the Far East. Libra also has a small programme in Egypt.
Long-haul deal