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AIM-listed tour operator Travelzest has continued its buy-and-build strategy with the acquisition of Captivating Cuba.

The UK-based company that offers holidays to the Caribbean island has become the latest addition to Travelzest’s growing portfolio following the £10,000 deal. Under the terms of the agreement, the group will clear Captivating Cuba’s £242,000 debt and will also be providing additional working capital.

Travelzest’s chief executive, Chris Mottershead, (pictured) said Captivating Cuba has great potential. “It already sells over 3,500 holidays a year to the UK market and by linking with itravel2000.com, our Canadian operation, we will be able to exploit this opportunity further and deliver strong organic growth over the coming years.”

This latest deal follows Travelzest’s acquisitions in December of UK accommodation provider Wow House and Turkey and Crete holiday company Tapestry Travel.

Other brands in the group’s portfolio include naturist tour arranger Peng Travel and Canadian company itravel2000.com. It also controls VFB Holidays, which specialises in providing cottage holidays in France; online travel agent Holiday Express; and Best of Morocco, a tour operator for individuals and small groups to the North African country.

Travelzest’s interim results for the six months to May show a £400,000 pre-tax profit from a £13.6 million turnover.

Captivating Cuba provides tailor-made holidays and escorted tours. It has a sales team in the UK who are supported by a team of representatives and administration staff on the Caribbean island.

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