Ski and activities operator Neilson was sold today by Thomas Cook to former Pizza Express owner Luke Johnson’s private equity firm Risk Capital Partners for £9.15 million.
All other parts of Thomas Cook’s UK tour operations remain unaffected by today’s announcement, the group said.
Brighton-based Neilson was established 37 years ago as two separate companies and was brought together by Thomas Cook in 1999 to run ski, sailing and beach holidays.
The Neilson businesses contributed approximately £1 million to group EBIT in the year to September 30.
As a result of this transaction, the group will separately disclose a £13 million non-cash asset impairment write down within its income statement for the year ended September 30.
Risk acquired a stake in cruise website Cruise.co.uk in August as Johnson’s first investment in the travel sector.
The firm also owns companies such as Patisserie Valerie, artisan bakery The Bread Factory and DIY business The Depot.
Cook group chief executive Harriet Green said: “The transformation of our UK business – and that of the group overall – is happening at pace.
“We have previously undertaken a comprehensive review of our product portfolio and where we want our business to be.
“Today’s announcement is the result of our continuing rationalisation of our business. Building on our other recently announced disposals, it will allow us to focus on those key brands, propositions and products that will deliver our strategy for profitable growth.”