Travel and leisure company Cox & Kings has – through its Holidaybreak PLC subsidiary – sold 100% of the issued and outstanding shares of Explore Worldwide Limited for GBP 25.8 million (Rs 258 crore) to Hotelplan UK Group.
Explore Worldwide Limited includes the brands Explore – soft adventure tours – and RegalDive – diving adventure specialist. The company generated net revenues of GBP 11.2 million (Rs 112 crore) and EBITDA of GBP 2.3 million (Rs 23 crore) in FY15 ended March, reports The Economic Times.
Peter Kerkar, Director, Cox & Kings, said, “The sale of this business helps us to further increase focus on our three key verticals- Leisure, Education and hybrid hotels (Meininger)”.
Last year June the company had sold the camping division of Holidaybreak for a total consideration of GBP 89.2 million pounds (Rs 892 crore) to Homair Vacances.