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Flight Centre Travel Group has taken full ownership of 3Mundi, the group’s business travel partner in France and Switzerland.
Australia-based Flight Centre already owned a 25 per cent stake in 3Mundi, which is a partner of its business travel brand FCM Travel Solutions, and has now purchased the other 75 per cent of the company.
Following the move, 3Mundi’s managing director Solenn Le Brazidec will continue to oversee its day-to-day operations in her new role of FCM Travel Solutions’ president for France and Switzerland.
Steve Norris, corporate managing director, EMEA, at Flight Centre Travel Group (pictured), said: “FCM and 3Mundi have enjoyed an excellent partnership since 2015 and we forged a closer bond in 2017 when we first invested in the business.
“We are excited to be investing in this further acquisition which will give FCM an even stronger presence in France and Switzerland. Both markets are important corporate travel hubs – in fact France is now the sixth largest corporate travel market in the world.
“The extension of our relationship with 3Mundi will unlock further benefits both for their local customers as well as FCM’s multinational clients.”
3Mundi was set up in 2006 by Jordy Staelen and Simon Renaud and has been growing at a rate of more than 35 per cent per year since 2012.
Le Brazidec added: "Since we signed our first partnership with FCM in 2015, we realised that we share the same values, the same pioneering spirit and the same ambition.
“The incredible opportunity to carry the FCM brand for the last four years has allowed us to grow and triple our turnover. By becoming a wholly owned subsidiary of the Flight Centre Group, we will have a stronger global offering for our customers, greater technological integration and more opportunities for growth."
Flight Centre has busy making acquisitions in recent years including the purchase of US-based Castro Travel Inc in December 2018.