Ian Swain buys back Swain Tours from the Travel Corp.

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Ian Swain, who founded Swain Tours with his wife Linda in February 1987, revealed that he bought the company back from the Travel Corp. July 7.

Swain told TravelWeekly.com he purchased 100% of the company, which he has been running since its inception, for an undisclosed amount and said he has no immediate plans for change.

 

Swain sold Swain Tours to Far & Wide Travel in 1999, and continued to run it as part of the management of Far & Wide. One of the most successful companies in the conglomerate, Swain Tours remained profitable throughout Far & Wides lifespan, though Far & Wide itself went bankrupt in September 2003.

After Far & Wides collapse, Swain tried to buy the company back but was outbid by the Travel Corp., which purchased the company for $3 million. 

Ive always been interested in owning the company [again], Swain told Travel Weekly. The Travel Corp. was aware of that. We came to an agreement about a month ago. It was a very amicable separation.

[Swain uses] many of the Travel Corp.s brands, like AAT Kings and Thompson Tours, and were going to continue doing that.

Alan Kilkenny, a spokesman for the Travel Corp. in London, confirmed the sale and the amicable nature of the separation.

The Travel Corp. thinks hes a great guy and we wish him well for the future, said Kilkenny.

To contact reporter David Cogswell, send e-mail to [email protected].

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