Poland-based online travel agent eSky has confirmed it has agreed to buy the Thomas Cook travel brand.
The Polish OTA said that the acquisition will “spur significant growth” for the Thomas Cook brand and allow eSky to strengthen its position in Western Europe.
The eSky business has a big presence in Central and Eastern Europe and will use this to grow further west, although it also operates in Africa and the Americas. Earlier this year, eSky agreed a sales and booking partnership with Ryanair.
The Polish agent is buying the Thomas Cook brand, for an undisclosed sum, from Chinese travel business Fosun Tourism Group, although Fosun will retain control of the Thomas Cook brand in China.
eSky has been heavily linked with a move for Thomas Cook since the beginning of this year. Fosun bought Thomas Cook after it collapsed after becoming insolvent in 2019.
Back in January, Sky News reported that eSky – which is owned by private equity house MCI Capital – was in “advanced negotiations” with Fosun about Thomas Cook outside of the Chinese market.
Łukasz Habaj, co-founder and CEO of eSky Group, said: “The synergy of Thomas Cook’s brand heritage with our technology will drive Thomas Cook’s growth and allow us to strengthen eSky’s position in Western Europe. This acquisition is part of our strategy to diversify from just selling flights to offering package holidays across our existing markets in
Europe and Latin America, as well as expand further into Western Europe.”
Thomas Cook Tourism CEO Alan French said: “The completion of this transaction will inject significant funding into our business as we rebuild the brand and accelerate the growth of this company. By combining the strength of our dynamic packaging technology and holiday know-how with the flight inventory, performance marketing and technical strength of eSky’s team, we are confident we will create a formidable European travel business.”
“The acquisition of Thomas Cook by eSky aligns with the company’s strategy to grow the dynamic packages segment and expand globally. This move will enhance eSky’s position and could boost eSky’s packages sales beyond €233m next year, sustaining a three-digit growth rate,” said Michał Górecki, Senior Investment Partner at MCI Capital.
In recent years, eSky has invested the most in the City Break and Holiday packages. This product is a cornerstone of business transformation from a predominantly flight platform into a Virtual Tour Operator. As part of the deal, Thomas Cook, led by CEO Alan French, will remain with the business. The company will continue to operate under the Thomas Cook name.
