Helloworld (HLO) has agreed to acquire 100 per cent of Wellington-based Barlow Travel Group (BTG) / BCD New Zealand.
Founded by Peter Barlow in 2011, the business trades as BCD Travel (BCD) in New Zealand under license from Netherlands based BCD Travel, one of the world’s largest corporate travel businesses with more than $US22 billion (AU$36b) in 2024 sales.
This acquisition builds on the successful history and long-standing partnership between the companies, as BTG has been a member of the Helloworld Travel Associate network of agents in New Zealand for many years.
HLO will be acquiring 100 per cent of the business from shareholders, including Peter Barlow and Ross Jamieson. They will both remain as executive directors of the business, and will work alongside Helloworld New Zealand executive general manager, Chris Hunter.
The business has 30 staff, with most based in the Wellington head office.
The consideration for the acquisition will be funded from HLO’s existing cash reserves. The acquisition will be earnings accretive in FY25 and beyond and the consideration represents an FY23 EBITDA multiple of approximately six times.
“We are very pleased to announce our acquisition of Barlow Travel Group,” Helloworld Travel Limited CEO and managing director, Andrew Burnes AO, said.
“They have been one of the most iconic brands in corporate and event travel in New Zealand for many years and throughout that time have supported Helloworld New Zealand as part of our Associate network of agents.
“Peter Barlow and Ross Jamieson are outstanding travel professionals with an extensive knowledge of corporate and event-based travel with an amazing group of customers across New Zealand. We have worked closely with them over many years and are looking forward to an even closer involvement with our investment in the business.”
Barlow said he was delighted to see his business go one step further in the relationship with HLO.
“We have been partnering with HLO now for seven years as a member of their network in New Zealand and are delighted that the opportunity to take the next step and become a part of HLO has eventuated,” he said.
“We can already see the advantages this will bring in terms of technology access, content and service delivery and together with Ross and the whole team we are looking forward to the ongoing development of the business.”
