Open To Acquisitions, Eyeing Growth In Small Towns: Thomas Cook

The Hindu:

Travel services provider Thomas Cook India Ltd (TCIL) on Sunday said it could consider taking the acquisition route to drive growth, while focusing on deeper penetration in small cities and towns.

“… We are open to consideration should a viable acquisition present itself,” Thomas Cook India Managing Director Madhavan Menon told PTI.

He did not specify if the company was actively scouting for an acquisition at the moment.

In 2006, TCIL had acquired LKP Forex Ltd for a reported Rs 100 crore and Travel Corporation India (TCI) for Rs 182.45 crore.

Mr. Menon, however, said the company’s primary focus would be to grow through usual expansion. Read more.