Thomas Cook India Group completes acquisition of Tata Capital’s Travel and Foreign Exchange Companies

Thomas Cook India Group has announced the completion of its acquisition of the wholly-owned subsidiaries of Tata Capital Limited, Tata Capital Forex Limited (foreign exchange) and TC Travel and Services Limited (travel services). The network of the two acquired entities includes 24 locations and 263 employees pan India.

The acquired companies will henceforth be referred to as TC Forex Services Ltd. and TC Travel and Services Ltd, Thomas Cook said in a statement.

Madhavan Menon, Chairman and Managing Director, Thomas Cook (India) said: “Our acquisition of Tata Capital’s Forex and travel companies serves to further reiterate our focus on the travel and foreign exchange sector in the country.”

He added: “The acquisition creates clear opportunities, including a significant increase in scale and network reach, volume/ buying advantages as well as technology gains, all resulting in stronger customer service and stakeholder value.”