China’s Fosun Tourism Group, owner of Thomas Cook, has sold the iconic brand to Poland’s eSky Group.
Its Chinese owners Thomas Cook they sold the band’s iconic brand eSky of Poland, just five years after Cook collapsed after 178 years in business.
The deal ends his efforts Fosun Tourism Group to enter the main UK market. Fosun, which it also owns Club Med was Cook’s single largest shareholder when it failed in September 2019.
A few months later, in November 2019, after a “rescue” deal failed to materialize, Fosun paid around £11 million to acquire the Cook brand and assets and later relaunched it as an OTA.
Fosun has reportedly been looking for a buyer for around 18 months, with rumors of interest from eSky emerging earlier this year. The group has a tourism platform operating in Central and Eastern Europe. He did not disclose the purchase price.
It is also committed to keeping the Cook name as a standalone business under the current CEO Alan French. French stated: “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 experience with the flight inventory, performance marketing and technical strength of the eSky team, we are confident we will create a great European travel business.”.
The new owners of Cook’s eSky added: “The deal will provide Thomas Cook with access to eSky’s superior flight stock and support its continued growth. At the same time, this step will pave the way for eSky to enter one of the most developed markets in Western Europe and strengthen its position.”.
The group was founded in 2004 and also owns the trademark eDestinations. It operates in more than 50 countries in Europe, North and South America and Africa. Profits in 2023 topped £18m, almost three times those in 2019.
THE Lukasz Habayco-founder and CEO of eSky Group, said: “This acquisition is part of our strategy to diversify from selling flights to offering package holidays in our existing markets in Europe and Latin America, as well as further expansion in Western Europe.”.
Headquartered in Katowice, eSky has more than 800 employees. As of 2022, eSky Group is partially owned by the registered private investment company MCI. MCI previously invested in taxi company Gett and payment company iZettle.