NRMA buys Adventure World
Industry rumours that NRMA was out shopping again and in particular for a wholesaler were confirmed late last week when it was announced that the Australia’s largest motoring organisation had bought Sydney based wholesaler Adventure World.
Acquired for an undisclosed sum, which has been insisted upon by Adventure World founder and MD, Peter Newsom, the acquisition follows on the heels of the purchase of a very substantial part of Thrifty car rental last year and consolidates NRMA’s position in Australia’s travel industry and fulfil its objective to strengthen its travel division.
It is believed that NRMA is buying a majority stake, believed to be around 70% with Newsom, who it is believed will retain a substantial shareholding and his current role commenting, “This will give us the additional financial and other resources to build up our operations, making them much more sustainable to survive in this highly competitive environment, also providing greater stability for future growth.
He added, “We hope to broaden our comprehensive range of packages as well as tailor them to fit the demands of NRMA’s members and enable staff to provide better service for agents.”
Tony Stuart, NRMA CEO said “Adventure World is a very well established and profitable business.”
Report by The Mole
John Alwyn-Jones
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