2017 may be wrapping up but the team over at Helloworld Travel are still hard at work buying out travel businesses.

Yes, the largest retail franchise just got a whole lot larger with Helloworld Travel confirming the acquisition of the Magellan Travel Group this morning.

The $32.5 million purchase is expected to be complete by January 2018, and will see Magellan continue to operate in its current form under the Helloworld Travel umbrella.

Helloworld NTK

Some 130 Travel Agents will cross over with the business along with Magellan’s Managing Director, Andrew Macfarlane, and other members of the Magellan management team.

Helloworld Travel’s Chief Executive, Andrew Burnes, said the acquisition will benefit both businesses by allowing Magellan to follow through with plans to consolidate its position, while improving the scale of Helloworld’s operations in Australia.

“I congratulate Andrew Macfarlane and the founding shareholders of Magellan for building what is a great network of Agents across Australia and we are delighted to welcome them to the Helloworld Travel family.”

Andrew Burnes, Helloworld Travel Chief Executive

“Many of these Agents were originally with Helloworld and its predecessors in years gone by and with the significant changes we have made in the Helloworld business over the last two years we are looking forward to welcoming them back.”

Magellan feature 2

The transaction is still subject to the execution of formal transaction documentation and will bring the agency group’s member numbers up to 2,300 in Australia and New Zealand.

Andrew Jones, Chairman of Magellan Travel Group said he was delighted to be securing the long-term future of the Magellan Group.

“Success in travel retailing moving forward is a challenge of growth and scale.”

Andrew Jones, Magellan Travel Group Chairman

“This deal delivers on both fronts with the additional benefit of delivering to our members the technology opportunities that Helloworld Travel is developing to drive productivity and yield to all of its members.”

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READ: Helloworld to buy half of MTA

What are your thoughts on the new purchase?