Australia-based Flight Centre Travel Group has signed an agreement to acquire Scott Dunn, a United Kingdom-based luxury travel brand, for £121 million ($149 million).
Founded in 1986, Scott Dunn has 200 full-time employees, and its two primary markets are the U.K. and the United States, with a small presence in Asia.
Founded in 1982, Flight Centre owns leisure and corporate travel businesses in more than 20 countries.
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The company says the acquisition will give it an entry point into the luxury market in the U.K. and U.S. and fast-track its plan to create a luxury collection of travel brands.
“High-net-worth, time-poor customers highly value the services of Scott Dunn as shown by their customers’ loyalty,” says Flight Centre's co-founder, CEO and global managing director Graham Turner.
“[Scott Dunn] has a prestigious image, commands a premium price and is capable of inspiring deep connections with customers.”
Scott Dunn CEO Sonia Davies will continue to run Scott Dunn as a separate business unit.
Davies says: “We are proud of how strong the Scott Dunn brand has become in the U.K. and now in the U.S. and Singapore and of our commitments to being a responsible business.
“We’re excited now to continue our journey and accelerate our growth with the Flight Centre Travel Group.”
In an interview in the PhocusWire studio at The Phocuswright Conference, FCTG chief experience officer John Morhous explains the company’s mergers and acquisitions strategy. Watch the interview below.
Executive Interview: Flight Centre Travel Group