Lowcostsbeds.com to buy Ideal

Lowcostsbeds.com is in take-over talks with specialist cruise agency Ideal Cruising for a currently undisclosed sum.
The deal is expected to be completed before Christmas subject to shareholders approval,
final legal negotiations and due diligence.

The Camberley based company started by Tony Youster four years ago will retain its current management team in an effort to maximize profits.

Total forecast profits for the company are expected to exceed £28million.

Lowcostbeds.com CEO Paul Evans said: “We are delighted to have reached agreement with the management team at Ideal to bring them in to the lowcost group.

“Ideal is a very successful business, consistently growing revenues and profits since entering the cruise industry four years ago.
We plan to invest in the management team, technology, staff and marketing to further grow Ideal’s cruise business.”

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He then went on to say, “The Ideal trading cycle complements the seasonality of lowcostbeds.com’s core beach and city holidays and together we will create a stronger group.”

Youster added: “Ideal has grown rapidly over the last four years and we see huge opportunities in the growing cruise sector to further add value to the cruise operators’ distribution models.”
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