The deal ends a bid by Fosun Tourism Group to enter the mainstream UK market. Fosun, which also owns Club Med, was the largest single shareholder in Cook when it failed in September 2019.
Several months later in November 2019, after a rescue deal failed to materialise, Fosun paid around £11 million to acquire the Cook brand and assets, and later relaunched it as an OTA.
Fosun has reportedly been looking for a buyer for some 18 months, with rumours of interest from eSky emerging earlier this year. The group owns a travel platform operating in central and eastern Europe. It did not disclose the purchase price.
It has pledged to maintain the Cook name as standalone operation under current chief executive Alan French, who shared his vision for the brand with TTG shortly after the acquisition was completed.
French said: “The completion of this transaction will inject significant funding into our business as we rebuild the brand and accelerate the growth of this company.
"By combining the strength of our dynamic packaging technology and holiday know-how with the flight inventory, performance marketing and technical strength of eSky’s team, we are confident we will create a formidable European travel business.”
Cook’s new owners eSky added: “The deal will provide Thomas Cook with access to eSky’s superior flight inventory and will support its continued growth. At the same time, this step will pave the way for eSky to enter one of the most developed markets in western Europe and strengthen its position.”
The group was founded in 2004 and also has the eDestinos brand. It operates in more than 50 countries across Europe, the Americas and Africa. Profits in 2023 surpassed £18 million, nearly three times those of 2019.
Thomas Cook boss spells out ambition for brand under new ownership
Lukasz Habaj, eSky Group co-founder and chief executive, said: “This acquisition is part of our strategy to diversify from just selling flights to offering package holidays across our existing markets in Europe and Latin America as well as expand further into western Europe.”
Based in Katowice, eSky has more 800 employees. Since 2022, the eSky Group has been part-owned by listed private equity company MCI. MCI previously invested in taxi firm Gett and payments company iZettle.
