United Kingdom-based travel company Thomas Cook Group PLC said it agreed to buy French tour operator Jet Tours as well as Canadian travel wholesaler TriWest Travel Holdings, in a move to expand in France and North America.

Montreal-based TriWest Travel, which was acquired for 114 million Canadian dollars, will merge with Thomas Cook North America.

Both purchases were funded from Thomas Cook’s cash reserves. Thomas Cook said both acquisitions offer strong synergies and will allow the company to grow in the respective markets.

Thomas Cook will also explore further strategic ties with Club Med.

“Both of these acquisitions are fully in line with our strategy of becoming a leading independent travel provider…as well as driving further consolidation across the sector,” said Chief Executive Manny Fontenla-Novoa.

Tags: canadian travel, club med, companies in france, expansion drive, french tour operator, group plc, independent travel, jet tours, montreal, synergies, thomas cook group, travel companies, travel company, travel provider, travel wholesaler

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