How Fosun got its hands on the Thomas Cook brand at a low price
A deal that could have cost the Fosun group dearly
It is reported in the Hong Kong press that Fosun is ultimately not unfortunate for not having acquired the majority of the Thomas Cook group. The group was willing to invest £450 million to have the majority of the Thomas Cook group and 25% of Thomas Cook Airlines. Fosun will only have lost its stake acquired on the stock market.
Persévérant, Fosun Tourism buys the brand …
The Chinese group has just acquired the Thomas Cook brand and associated hotel brands for £11 million (approximately €13 million), with the aim of strengthening its presence in the tourism sector. Apart from Thomas Cook, the group now owns the Casa Cook and Cook’s Club brands. According to Travel Weekly, TUI also submitted an offer but it was not accepted!
Fosun tourism still believes in the value of the brand
Qian Jiannong, president of Fosun Tourism, said: » The group has always believed in the Thomas Cook brand value. The acquisition of
the Thomas Cook brand will enable the group to develop its tourism activity by building on the reputation of the Thomas Cook brand and on the sustained growth momentum of Chinese outbound tourism « .
Fosun will use the brand
The company can now use this name and its website to sell travel. However, it is not known when Thomas Cook will return online. Fosun stated that the group has no plans at this time to acquire any further assets or activities related to Thomas Cook. It should not be forgotten that the Chinese group has another very beautiful brand: Club Med!