Flight Centre Travel Group acquired UK based Luxury Travel Holdings Limited

Flight Centre Travel Group Limited (ASX: FLT) announced that it had signed a binding agreement to buy 100% of United Kingdom-based luxury leisure travel business Luxury Travel Holdings Limited (Scott Dunn) for an enterprise value of £121 million (AU$211 million), demonstrating 9.6x Scott Dunn’s EBITDA for the 12 months ending 30 June 2023. The purchase consideration will be funded through a fully underwritten AU$180 million institutional placement and AU$40 million of existing cash on the company’s balance sheet before receipt of any funds raised under the share purchase plan.

The acquisition will enable the company to expand its northern hemisphere leisure footprint in line with its strategic objectives of expanding its core markets and developing a global luxury collection of travel brands. The company is expecting its FY23 underlying EBITDA before the benefits of the acquisition.

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