MIAMI -- Far & Wide Travel Corp. continued its buying spree,
acquiring Grand European Tours, a consumer-direct tour operator
based in Lake Oswego, Ore. Terms of the deal were not disclosed.
Grand European, a 20-year-old company, specializes in first
class escorted programs to Europe, the Middle East and eastern
Europe sold directly to senior citizens.
The founders of Grand European, Jeff and Tom Scrugham, will
remain president and vice president, respectively, of the company.
They also will hold senior management roles within Far & Wide
Travel.
However, it has not been determined whether Grand European will
become a separate business unit or will be placed under an existing
Far & Wide division, according to a spokeswoman for the
company.
Phil Bakes, Far & Wide's chairman and chief executive
officer, said in a statement that Grand European will continue to
specialize in in-depth tours for seniors and will open up the
product line to travel agent sales. "We will explore ways of
introducing their successful concept to travel agents," Bakes
said.
Grand European offers traditional multicountry tours of Europe
as well as regional themed itineraries, such as visits to
vineyards.
Jeff Scrugham said in a statement, "This is an outstanding move
for us because it enables us to continue offering our highly
specialized tour packages while utilizing the resources of our
sister Far & Wide companies to apply some of the efficiencies
they've developed to travel-agency-generated business."
Far & Wide, established only eight months ago, has acquired
Central Holidays, Swain Tours, IST Cultural Tours, Tourlite
International, Zeus Tours & Yacht Cruises, Pacific Bestour,
African Travel and High Country Passage.