Mottershead on the acquisition trail
Former TUI UK managing director and Airtours chief executive, Chris Mottershead has re-emerged in the industry, with the lead role at a travel company looking to buy specialist operators.
Mr Mottershead has taken the role of group chief executive at VFB Group plc, a holding company that plans to buy high quality specialist brands outside the core Spanish market.
Launched in 1971 by Mike Bruce Mitford, VFB Group started as VFB Holidays, still the company’s only brand, selling gite holidays in France.
The company has since expanded with escorted and themed tours mostly in France.
Speaking to TravelMole about his new role Mr Mottershead said he planned to change the name of the holding company from VFB Group to Travelzest plc.
He is also on the hunt for specialist operators.
“This is a travel business rather than a holiday company so the group is looking to acquire specialist operators.
“We’re looking for future-proof businesses so I am looking at companies that have been successful over the last three or four years and lived through the dot com boom, September 11, the Iraq War and so on, demonstrating sustainability.”
Mr Mottershead added that Travelzest would also be looking at buying online distribution businesses.
The Ofex-listed company will be officially named Travelzest from April 27 when the name change is approved by VFB shareholders at the AGM, although the website has already been launched, www.travelzest.com, and Mr Mottorshead says shareholder approval is a formality.
Report by Ginny McGrath
Ginny McGrath
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