Cox & Kings to acquire Australia's Tempo Holidays

Cox & Kings (India) is set to acquire Australian outbound travel wholesaler Tempo Holidays.

According to The Economic Times, the deal, to be inked shortly, will be Cox & Kings' second acquisition after UK's ETN, a destination management services operator, which it bought in 2006.

Cox & Kings MD Peter Kerkar said, "The excellent base created by Tempo will allow us a platform to consolidate and enhance our product offering worldwide."

Upon completion of sale, ownership of Tempo Holidays will move to Cox & Kings (Australia), an entity controlled by the Indian company, and will retain the Tempo brand name.

Susan and Gary Hearst started the company back in 1990, then known as Yalla Tours, with a rebranding in 2001 to Tempo Holidays, the business now markets products to over 40 countries. Steve Reynolds will remain as CEO, whilst Jeremy and Anthony Hearst will continue to be involved with the business.