TravelSupermarket and Icelolly joint entity deal completes
Holiday comparison brands TravelSupermarket and Icelolly.com have joined together and become Ice Travel Group. The deal, first proposed in mid-May, has now completed, with former Icelolly CEO Richard Singer becoming CEO of the new business.
Both brands are to be retained within the new Group. Singer says that joining up our teams and resources will benefit consumers and the industry: “We will be able to help more British holidaymakers find and save money on their perfect holiday. By combining we can create and deliver a stronger and broader outbound and UK offer to benefit consumers and our partners”.
Singer adds: “The deal is well-timed. Many people have not been able to get away for a long time. But, recently, holidaymakers from the UK have been steadily returning to the beaches and cities in Europe. Outbound demand is at last coming back and bookings are increasing for this and next year. I am thrilled to be leading the team at Ice Travel Group and look forward to developing the two brands as the travel industry recovers”.
MoneySupermarket Group is the major shareholder of the new business. Palatine Private Equity and management, who have been involved with Icelolly for a number of years, hold a minority interest.
Andy Lees, Non-Executive Director of Icelolly and Partner at Palatine Private Equity adds: “We are delighted that this deal has finalised. We’ve been working with Richard and his team for a number of years now and we know that they and the combined team will make a great success of this new venture”.
TravelSupermarket was founded in 2004 and is based in London and Ewloe, Wales; it helps UK consumers find and save money on holidays, flights, hotels, car hire and travel extras such as travel insurance and airport parking. Icelolly was founded in 2005 and is based in Leeds; it is a travel intermediary specialising in package holiday comparison and deals.