US travel industry giant Travel Leaders Group said it reached an agreement to acquire Barrhead Travel Group, one of Scotland’s largest retail travel companies and one of the biggest in the UK with more than 75 locations and more than 900 employees and agents.
Travel Leaders Group is one of North America’s largest travel companies – encompassing nearly one-third of all travel agents on the continent.
Glasgow-based Barrhead will become part of Travel Leaders Group’s growing presence in the UK and around the world.
The transaction is expected to close in the first quarter. Terms of the agreement will not be disclosed.
“Barrhead is a great addition to our family of brands,” said Travel Leaders Group CEO Ninan Chacko.
“It’s an innovative, award-winning travel business that is on a trajectory for continued growth.
“From its high-touch retail travel superstores to its online presence, Barrhead offers personalized attention, technology tools, highly-trained travel specialists and a wide range of travel products and services.”
Barrhead will retain its brand identity within the Travel Leaders UK portfolio.
Barrhead’s chief executive Sharon Munro will continue to manage the business.
Her father and Barrhead founder, Bill Munro, will serve in a strategic advisory role as chairman of the Barrhead division within Travel Leaders Group.
No major changes in operations are anticipated.
Chacko added: “Bill and Sharon Munro have devoted their careers to building this extraordinary business.
“We’re pleased that the Munro family is entrusting the future of Barrhead, its employees, agents and customers to our organization.
“We’re excited about this chance to expand our presence in Scotland and the U.K. overall and the opportunities this affords both companies.”
Sharon Munro said: “Joining with Travel Leaders Group will give us the resources to expand into additional markets, access to new technology and the ability to innovate.
“This agreement creates exciting new prospects for both our enterprises.”