BUCHAREST (Romania), June 30 (SeeNews) – Swiss wellness company Hey, Be Well! has taken over the Romanian travel agency Happy Tour, the tour operator announced on Wednesday.
The transaction was finalized at the end of June and the new owner intends to capitalize the company to the tune of 2 million euros ($ 2.38 million), Happy Tour said in a press release.
Hey, Be Well !, whose sole shareholder is businessman Javier Garcia del Valle, has taken over Happy Tour from GED Eastern Fund II, which is part of the Spanish investment fund GED.
Over ten years ago, Garcia del Valle took over the management of Happy Tour, also becoming a minority shareholder in the company.
“It was a natural decision after so many years at the helm of the company, even though in 2020 tourism was severely affected by the coronavirus pandemic internationally, not just locally. I have always believed in the potential of Happy Tour and the business model that I have evolved over time, ”said Javier Garcia del Valle, CEO of Happy Tour.
“Happy Tour is a strong player in tourism, with a very good team of professionals, and the partnership with FCM, the largest travel management company in the world, shows the potential for development, both in Romania and in foreign markets where we operate. “
Despite halving revenues in 2020 due to the pandemic, the agency has managed to retain most of its employees and its entire portfolio of business travel clients.
For this year, Happy Tour estimates that it will be profitable and will achieve a turnover of at least 34 million euros.
Happy Tour is a business and leisure travel company with its own network of associated agencies, developed nationally and internationally. The company operates a network of 71 own and associated agencies, with 89 points of sale in 51 cities in Romania, Bulgaria, Moldova and Turkey.
($ = 0.8395 euro)