Business travel specialist Clyde Travel Management taken over fellow Advantage member Beaver Travel based in the north of Scotland.
Established in 1973 and managed by Fiona and Ian Widdowson since 1999, Beaver Travel has offices in Elgin and Forres.
Clyde also owns Alba Travel in Inverness.
Director Paul Cronje said: “We are delighted to have Beaver Travel join the Clyde family.
“It is a brand we have long admired as friendly competitors to our own leisure division, Alba Travel, but also as fellow partners within the Advantage Travel Partnership.
“Both brands are established institutions in their own communities, having both been in existence for over 40 years.
“We already enjoy a lot of shared values and I’m sure we will learn many good practices from each other as we move forward.”
Fiona Widdowson said: “We are confident that under the management of Paul Cronje and his team, Beaver Travel will continue to serve the communities it operates in with the professionalism, expertise and kindness it has done for the last 40 years.
“We would like to thank everyone for their support and loyalty over the past 18 years we have been involved, and in particular we thank the fantastic team at Beaver who make it the business it is.”