Helloworld Travel (HLO) has acquired 100 per cent of Barlow Travel Group (BTG), trading as BCD Travel New Zealand, heralding a new chapter for the longstanding partnership between the two companies.
Corporate and event travel company BTG has been a member of the Helloworld Travel Associate agent network in New Zealand for seven years.
Founded by Managing Director Peter Barlow in 2011, the business trades as BCD Travel under license from Netherlands-based BCD Travel, one of the world’s largest corporate travel businesses with sales of more than USD$22 billion in 2024, with a 30-strong team.
HLO acquired BCD from various shareholders, including Barlow and Director Ross Jamieson who will remain as Executive Directors and work alongside Helloworld New Zealand Executive General Manager Chris Hunter.
HLO will use its own cash reserves to pay for the purchase and expects it to increase profits starting in FY25 and beyond. The price paid is about six times the company’s earnings before interest, taxes, depreciation and amortisation (EBITDA) from 2023.
HLO CEO & Managing Director Andrew Burnes said: “We are very pleased to announce our acquisition of Barlow Travel Group. They have been one of the most iconic brands in corporate and event travel in New Zealand for many years and throughout that time have supported Helloworld New Zealand as part of our associate network of agents.”
“Peter Barlow and Ross Jamieson are outstanding travel professionals with an extensive knowledge of corporate and event-based travel with an amazing group of customers across New Zealand.
“We have worked closely with them over many years and are looking forward to an even closer involvement with our investment in the business,” he said.
Barlow said he looked forward to seeing his business relationship with HLO progress.
“We have been partnering with HLO now for seven years as a member of their network in New Zealand and are delighted that the opportunity to take the next step,” he said.
“We can already see the advantages this will bring in terms of technology access, content and service delivery and together with Ross and the whole team, we are looking forward to the ongoing development of the business.”
Find out more at helloworld.com.au
