Both brands will be retained as part of deal first proposed in May
Icelolly.com TravelSupermarket merger promises transparency and innovation
Former Icelolly boss Richard Singer has become chief executive of the new Ice Travel Group following the merger with TravelSupermarket.
The deal, first proposed in mid-May, has now been completed after winning clearance from the Competition and Markets Authority last month.
Both holiday comparison brands are to be retained.
MoneySupermarket Group ?is the major ?shareholder of the new business.
Palatine Private Equity and?management, which has been involved with Icelolly for a number of years, holds a minority interest.
Singer said: “We will be able to help more British holidaymakers find and save money on their perfect holiday. By combining we can create and deliver a stronger and broader outbound and UK offer to benefit consumers and our partners.
“The deal is well-timed. Many people have not been able to get away for a long time. But, recently, holidaymakers from the UK have been steadily returning to the beaches and cities in Europe.
“Outbound demand is at last coming back and bookings are increasing for this and next year. I am thrilled to be leading the team at Ice Travel Group and look forward to developing the two brands as the travel industry recovers.”
Mark Gracey, corporate development director at MoneySupermarket Group and non-executive director of Ice Travel Group, added: “The new independent, travel-focused group will foster rapid innovation and continue the pioneering work of both brands which support choice and transparency for UK travellers.”
Andy Lees, non-executive director of Icelolly and partner at Palatine Private Equity, said: “We are delighted that this deal has finalised. We’ve been working with Richard and his team for a number of years now and we know that they and the combined team will make a great success of this new venture.”