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Carnival sells stake in Victoria Travel – 26 Apr 2007

Cruise operator Carnival Corporation has sold its 100% stake in discount warehouse Victoria Travel, which trades online as Cruise.co.uk, in a deal backed by Midlands-based venture capitalists Forward Group.

Chairman Andrew Gardner said the deal was initiated by the cruise operator 12 months ago because it wanted to concentrate on its core business of running cruiselines rather than retail. 

Gardner, who set up the business as a high-street shop 23 years ago, will remain as chairman. Former Airtours Holidays managing director Seamus Conlon, who joined two years ago, will retain his position as managing director.

“We have cash to expand and we are looking to expand organically and if other opportunities come along we will look at those.

“We will continue to work closely with Carnival but this means we will be able to work more closely with other cruiselines,” Gardner said.

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