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Travel Leaders Group is buying Barrhead Travel Group, a travel agency chain predominantly based in Scotland, for an undisclosed amount. Barrhead Travel has more than 75 stores and employs around 900 people. The transaction is expected to close in the first quarter. Travel Leaders Group’s purchase of Barrhead Travel is the latest in a series of deals involving the acquirer. Last year, Travel Leaders merged with Altour to create a combined entity with $24 billion in annual sales. In 2017, Travel Leaders, the largest travel agency consortium in North America, alsobought London-based Colletts Travel. According to its most recent set of accounts, in 2016 Barrhead Travel generated group revenue of $177.3 million (￡124.5 million) with a pre-tax profit of $4 million (￡2.8 million). Read original article |
