Travel group, helloworld, is moving across the Tasman with the acquisition of up to 10 retail travel stores from Air New Zealand.
The announcement comes ahead of the launch of the helloworld brand in New Zealand early 2016.
Subject to certain pre-completion conditions, CEO Elizabeth Gaines said the acquisition would support the strategic growth of HLO’s operations in New Zealand.
“The intended acquisition of up to 10 retail travel stores from Air New Zealand would expand our geographical footprint, add strength to our existing networks and would assist in building the critical mass from which to launch the helloworld brand in New Zealand.”
Elizabeth Gaines, helloworld CEO
“HLO has a strong presence in New Zealand with over 90 agents currently operating under the Harvey World Travel and United Travel brands.
“The opportunity to transition to a unified helloworld brand will deliver a consolidated share of voice for our agents, as well as economies of scale for the business.
“HLO remains focused on delivering for our shareholders, agents, partners and consumers and this proposed strategic expansion of our retail footprint reflects that commitment.”
Earlier this month, the agency group announced that it had terminated potential acquisition talks with a company that would have added inbound, corporate/government and leisure businesses to the group’s profile in Australia, New Zealand and the South Pacific.
However, helloworld it was unable to reach an agreement with the AOT Group shareholders. This was mainly because helloworld wasn’t willing to make AOT ‘significant minority shareholders’ in its business. Read on
