Suitors in the hunt for Travelzest

Travelzest, which owns nudist firm Peng Travel as well as luxury brands such as Best of Morocco and Captivating Cuba, did not confirm potential suitors but it is understood management are preparing a bid at 20p per share. Chief executive John Carroll is reported to be leading a joint bid with Canada’s Hunter family, who own the Sunwing tour operator, for the Cheltenham, Gloucestershire-based group.

If the deal goes ahead, the Hunters would have 55 per cent of the new venture, while Mr Carroll and his finance director Jack Fraser, who together currently own 17 per cent, will take the rest. Travelzest has been a mooted takeover target for some time with travel firm Thomas Cook and investment company Gartmore mentioned as potential suitors.

But yesterday’s statement said discussions were at the “very early stages” and there was no certainty the talks would result in an offer being made.

Travelzest listed on the Alternative Investment Market on the London Stock Exchange in 2005.