Business
Acquisition of Destinology Ltd
Acquisition of Destinology Ltd.
About this update from Saga Plc
[{"type":"text","content":"\n \nRNS Number : 9667O SAGA PLC 13 August 2014 \n \n\n13 August 2014\nSaga plc \nAcquisition of Destinology Ltd\nSaga plc (\"Saga\" or \"the Group\"), the UK's leading provider of products and services primarily tailored for the over 50s, today announces the acquisition of a majority shareholding in Destinology Ltd (\"Destinology\"), an online travel firm specialising in four and five star holidays to the UAE, Far East, Indian Ocean and Europe. The Group will have the option to acquire the remaining shareholding at a later date.\nThe acquisition will be wholly funded from existing cash resources within the Group's Travel business.\nDestinology, a privately-owned business founded in 2004, served 30,000 holidaymakers last year. It employs 110 staff at its Bolton head office. Key senior management will remain with the business.\nLance Batchelor, Group Chief Executive, commented: \"Destinology is one of the UK's leading travel businesses with strong expertise in online sales and marketing and award winning service so we are very pleased to have brought the business into the Group.\n\"It is an excellent fit with our existing travel brands - Saga Holidays, Saga Cruises and Titan Travel - particularly in relation to the demographic it serves, and will enhance our range of travel offers to customers.\"\nENDS\nFor further information please contact:\n \n\n\n\n\nSaga plc\n\n\n \n\n\n\n\nTim McCall, director of corporate affairs\n\n\nTel: 07753 561862\n\n\n\n\n \n\n\nEmail: [email protected]\n\n\n\n\nPaul Green, director of communications\n\n\nTel: 01303 776 023 / 07714 414859\n\n\n\n\n \n\n\nEmail: [email protected]\n\n\n\n\n \n\n\n \n\n\n\n\nMHP Communications\n\n\n \n\n\n\n\nAndrew Leach / Simon Hockridge\n\n\nTel: 020 3128 8100\n\n\n\n\n \nNotes to editors:\nSaga is a leading provider of products and services primarily tailored for customers over the age of 50 in the UK. The Saga brand has been carefully developed over the past 60 years to become one of the most recognised and trusted brands among UK consumers aged over 50. Saga is synonymous in the UK with the over 50s market and is recognised for its high quality products and services. These include cruises and holidays, home and motor insurance, savings and share dealing and publishing the UK's award winning Saga Magazi...