GED's Happy Tour continues acquisitions with Travel House deal

Spanish investment fund GED has purchased 80 percent of local travel agency Travel House in a second such deal for the fund this year, after having recently bought Paravion.ro. GED, which owns the biggest travel agency in Romania, Happy Tour, is thus expanding on the travel and tourism segment in Romania. Travel House posted EUR 6 million in sales last year and a profit of EUR 110,000. “This deal is part of the consolidation strategy for Happy Tour, which aims to become the biggest tourist operator in the country on the corporate segment, online and holiday programs,” said Javier Garcia del Valle, CEO of Happy Tour. The deal should be finalized in June, pending a Competition Council approval. Travel House was controlled by Luca Zucchetti, Corina Souvannasouck and Stefano Bardi. Read more about GED's previous acquisition and its other companies in Romania here.