Eastern Transport Holdings Ltd (ETH) intends to acquire the business operations of The Galloway Travel Group (GTG) on 30 November 2016. ETH shares common ownership with Stephensons of Essex Ltd. This recent announcement follows a period of close communication and discussion with the directors of ETH, as the retiring directors of GTG are keen to ensure the long term business plans of the new owners align with the Galloway model. GTG will continue to trade as a standalone business, distinct from other subsidiary operations of ETH. It will also carry on operating from the existing Head Office located at Mendlesham, Suffolk. A statement from Galloway said its existing Management Team will be ‘instrumental in assisting the directors of ETH in planning and developing an exciting future for Galloway over the coming years’.
Galloway was founded in 1965 to provide school group coach travel to the Continent. The company now runs over 50 vehicles on private hire, school provision, local bus routes and day excursions.
ETH’s Director, Bill Hiron, said, ‘Our acquisition of GTG represents a logical extension to the existing business and is in keeping with our vision to diversify both our geographic footprint and range of income streams within the Eastern region.’
MD at Galloway, David Cattermole, said, ‘The Directors and Management Team of GTG will work closely with the Directors of ETH to ensure the new owners are able to develop an in depth knowledge and awareness of all aspects of the trading style of GTG before completion of their acquisition at the end of November 2016.’