Flight Centre has taken full ownership of Paris-based corporate travel group 3Mundi, bringing around 170 million euros ($275 million) in annual total transaction value (TTV) under its global umbrella.
In 2017 Flight Centre took a 25 percent stake in the company, and yesterday's acquisition was based on the terms of a put-call option included that agreement.
The two companies have worked together since 2015 when 3Mundi became part of Flight Centre's FCM Travel Solutions network as an independent licensee for the markets of France and Switzerland.
"France is an important business travel hub globally and is now the world's sixth largest corporate travel market, making it a significant future growth opportunity for our company," says FLT managing director Graham Turner.
"We have worked closely with the 3Mundi team since 2015 and believe that this extension of our relationship will unlock further benefits both for 3Mundi's local customers and for FCM customers in general and help us capitalise on this opportunity."
Founded in 2006 by Jordy Staelen and Simon Renaud, 3Mundi now employs 220 people across its offices in Paris and Geneva.
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