Superbreak, a subsidiary of travel operator Holidaybreak, has acquired ticket agent West End Theatre Bookings for Ł3.2 million. (2/22/2007)
“The recent the acquisition of West End Theatre Bookings will complement Superbreak’s existing theatre breaks service, offering customers increased and better access to premier shows in the West End,” stated a release.
Superbreak, incorporating Theatrebreak, is the Internet division of Superbreak Mini Holidays Limited, the market leader for short breaks throughout the UK, offers specialist short breaks to a variety of locations across the UK and Europe.
Under the agreement between Superbreak and West End, Andrew Petersen will remain the managing director of West End Theatre Bookings and will retain his management team.
Before Holidaybreak’s acquisition of West End Theatre Bookings, the company earned a pre-tax profit of Ł400, 000 on revenue of Ł9.1 million in the year ending 30 September 2006. As Superbreak’s parent company, Holidaybreak will pay West End Theatre Bookings an initial Ł2.6 million in cash, with the remainder of the amount payable over three years.
Carl Michel, chief executive, Holidaybreak, said: “The acquisition of West End Theatre Bookings strengthens our position in London theatre-inclusive breaks and builds on our product packaging strategy.”