TC gets approval for Gold Medal purchase
Thomas Cook Group has received competition clearance from the European Commission for its acquisition of Gold Medal International.
The deal, originally announced in December, will see Thomas Cook pay an initial £24.9 million for a half share of the business.
The balance will be paid through an option mechanism with payment tied to financial performance.
In addition Thomas Cook will contribute its Flight Savers scheduled flights business to Gold Medal.
The deal has been made with Gold Medal founder and sole shareholder Ken Townsley.
The company’s brands include Gold Medal, which sells through independent travel agencies, Netflights.com, which sells directly to consumers, and luxury operator Pure Luxury.
Thomas Cook said it is intended that the combined Gold Medal and Flight Savers business will operate as a standalone entity.
It claims savings of more than £4 million a year will be generated as a result of cost efficiencies and better distribution.
Gold Medal management will report to Thomas Cook’s Ian Derbyshire, CEO of independent travel for UK and Ireland.
By Bev Fearis
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Phocuswright reveals the world's largest travel markets in volume in 2025
Higher departure tax and visa cost, e-arrival card: Japan unleashes the fiscal weapon against tourists
Cyclone in Sri Lanka had limited effect on tourism in contrary to media reports
Singapore to forbid entry to undesirable travelers with new no-boarding directive
Euromonitor International unveils world’s top 100 city destinations for 2025