Cosmos sells Apollo Travel toUnited Norwest

 

 

 

 

 

 

 

 

 

 

 

Journal: TWUK	Section:
Title:	Issue Date: 12/06/00
Author:	Page Number: 72
Copyright: Other

 

 

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Cosmos sells Apollo Travel toUnited Norwest

UNITED Norwest has confirmed the acquisition of Apollo Travel from Cosmos for an undisclosed sum.

 

As exclusively revealed by Travel Weekly on May 29, the Stoke-based miniple agreed the deal for 25-branch Apollo after six months of protracted negotiations. It will retain the Apollo brand name and inject over £1m into refurbishing shops and upgrading technology.

 

General manager Mike Greenacre, who is believed to have paid significantly less than the original £5m asking price, said Apollo's Rotherham-based call centre and e-commerce businesses were major reasons behind the deal.

 

"It represents a significant gap in our existing channels of distribution,” he said.

 

Greenacre said he would carry out a review of the business but warned there was no guarantee all shops will be kept.

 

Apollo managing director John Lockwood is staying with the company to develop its call centre, e-commerce and corporate loyalty business scheme.

 

It brings the number of shops controlled by United Norwest to 80.