Flight Centre acquires French corporate travel firm
Flight Centre has secured full ownership of French corporate travel firm 3Mundi.
It bought a 25% stake in the company back in 2017 and has exercised an option for a full takeover.
The two firms have partnered since 2015 when 3Mundi joined the FCM Travel Solutions network as a licensee for France and Switzerland.
3Mundi has offices in Paris and Geneva.
"France is an important business travel hub globally and is now the world’s sixth largest corporate travel market, making it a significant future growth opportunity for our company," says Flight Centre managing director Graham Turner.
"We have worked closely with the 3Mundi team since 2015 and believe that this extension of our relationship will unlock further benefits."
Founded in 2006, 3Mundi now employs 220 people and generates about 170 million euros in annual total transaction value.
Flight Centre’s corporate businesses now account for $4.2 billion in total transaction value, which is 37% of group revenue.
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