North East holiday company Hays Travel has acquired Essex business Spear Travels Group, together with its branches across the Ƶ.
Based in Upminster, Essex, Spears Travel Group has 12 branches in key towns including Skipton, Stokesley, Wolverhampton, Blanford and Northallerton, as well as a network of homeworkers.
The acquisition marks the first of the new financial year for Hays Travel and comes almost a year to the day since the Sunderland-based group acquired Welsh travel company Miles Morgan Travel and its 19 branches, which grew to 20 recently with the opening of a new branch in Trowbridge, Wiltshire.
Dame Irene Hays, chair and co-founder of Hays Travel, praised Spear Travels directors Peter and Libby Cookson and Derek Adams on their excellent business, citing the expertise and experience of Spear’s people as a key factor in the deal. Hays Travel has no plans to rebrand the firm’s shops, the majority of which are based in communities without Hays Travel branches.
Most recent accounts published in March for Spear Travels, covering 2024, show the £3.7m turnover firm was enjoying strong consumer confidence in travel, with its customers willing to increase their budgets and also take multiple generations with them, with more unusual destinations on their travel list, such as Antarctic explorations, cruises and escorted tours.
The group, which had 74 employees last year, said in the accounts that its biggest growth area in 2024 was cruises departing from the Ƶ, followed by river cruises and a “heady mix” of Australia, Italy, Spain, Indian Ocean, Greece, New Zealand, Caribbean, Canada, USA, the Far East and Turkey.
Its acquisition by Hays Travel follows acquisitions of its own, having snapped up Regent Travel and Regent Tours in 2023, as well as the database and forward bookings of Strachan Travel near Blackpool last November.
Peter Cookson, former managing director of Spear Travels said: “Naturally selling the business that Libby, Derek and I have worked so hard to build over the past 30 years is a difficult decision. However, we are comforted knowing that our team has found a new work family in Hays Travel. All jobs are safe, and the team now have more opportunities for development and career progression - there will be little disruption to day-to-day activity.”
Dame Irene Hays said: “Spear Travels is an excellent fit for us - their product mix of land, cruise, and touring holidays aligns with our core objectives, and we have much to learn from each other.
“I have enormous respect for Peter, Libby and Derek. They have built excellent, trusted brands in Spear Travels, Broads Travel, and Regent Travel.
"They have a loyal and growing customer base, cared for by great people with exceptional expertise and experience, who we are delighted to welcome into the Hays Travel family. I wish Peter, Libby, and Derek every happiness and success with the next chapter of their journey.”
