Egyptian travel company Sakkara Group International (SGI) has confirmed the take over of UK-based Mosaic Holidays.
The acquisition was described as a “major investment deal” expanding the reach of the multinational travel group which has interests in the US, France, Egypt, India and Italy.
It “provides expanded opportunities for delivering customised experiential travel programs for the company’s brands”.
Mohamed Abdel Hadi, who heads SGI’s brand STI UK, will work closely with Mosaic Holidays’ managing director Sabina Shaida, who will relocate to the STI UK headquarters.
Shaida said: “We have been looking for the right partner with the right fit for some time now to enable Mosaic to expand its luxury tailor-made portfolio and invest in our partnerships with key travel agents.
“This investment provides an exciting opportunity to expand the company and develop into new and exciting destinations.”
SGI chairman Baher Ghabbour said: “The acquisition of Mosaic Holidays is the next strategic step in SGI’s goals for growth.
“SGI’s expansion in the UK will enable our family of brands to provide more in-depth destination expertise and hands-on in-country support throughout the region, positioning us ideally to present an even greater array of customised travel opportunities and exclusive experiential offerings that today’s travelers are yearning for.”
SGI owns and operates a worldwide portfolio of hotels, cruise companies, and tour operators including the Central Holidays family of travel companies with its flagship brands Central Holidays and STI Travel.