FIRSTChoice has agreed to acquire the name and goodwill of a seven-strong chain of agencies in London and East Anglia as part of its plans to strengthen its retail network in the southeast.
The agencies are part of Ferrychoice and currently trade under the names Travelworld, The Cruise Centre, Blackheath Travel World and Parador Travel.
The deal is due to be completed in the first week of May for a cash consideration of ú1.3m.
A spokeswoman for First Choice said: “These shops fit in with our strategy of expanding in the southeast and sit well with our Intatravel shops.”
First Choice is expected to rename the agencies under its newly created brand Travel Choice, which it plans to grow into a national chain by the end of 2000.
But the spokeswoman said it would not be making a decision about renaming the shops until the deal has gone through. First Choice plans to retain all the existing agency staff.
Ferrychoice owners Peter Levinger and Alan Weiner are continuing to run a number of other travel outlets, including Parador Business Travel, Norwich Cruise Centre and an Internet business called One-stop Cruises.
The likely renaming of Ferrychoice’s Travelworld shops will end a two-year battle with Huddersfield-based 122-strong chain Travelworld.
Travelworld managing director Terry Fisher said:”Ferrychoice claimed there was confusion between the two companies and we have been having high level correspondence with them. We are relieved that this will now be over.”