Dreamlines, a German-headquartered online travel agent and tour operator, confirmed the acquisition of 100% of the share capital of Cruise 1st. Cruise 1st is a leading cruise retail brand with offices in Manchester, Sydney and Singapore. Cruise 1st has been operating as a combined web and call centre business since 2000 and opened the UK’s first interactive cruise retail store in the Lowry Shopping Centre, Manchester in January this year.
Surrey and London law firm Mundays advised the shareholders of Cruise 1st on the sale of the company to Dreamlines. The Mundays’ transaction team was led by Head of Corporate and Commercial, Neale Andrews who was supported by Corporate Senior Associate, Howard White.
Caspar Moore on behalf of the seller shareholders said, “The professionalism and good humour of Mundays LLP as they supported us through the sale process was invaluable. Neale and Howard guided us expertly through the negotiations and were instrumental in achieving a successful outcome.”
Travel specialist accountants White Hart Associates provided financial, tax and regulatory advice to Cruise 1st.
Dreamlines were represented by Dentons and Ernst Young.
The value of the transaction is not disclosed. The acquisition signals Dreamlines’ entry into the UK cruise market.