Online cruise and ski specialist Iglu has been acquired by Australian leisure and corporate travel business Flight Centre Travel Group (FCTG)

The deal, worth £100 million with up to an additional £27 million in performance based earnouts, includes the Iglu Cruise, Planet Cruise and Iglu Ski brands.

Chief executive David Gooch, who will continue to lead Iglu, said the partnership “opens up significant future growth opportunities”, allowing the firm to scale its operations while maintaining its “unique” identity.

The agency will continue to operate out of its Wimbledon and Portsmouth offices and form part of Flight Centre’s global leisure division under its CEO James Kavanagh.

“By leveraging Iglu’s world-leading e-commerce platform alongside Flight Centre’s global experience, we are perfectly positioned to capture new market share,” Gooch added. “Most importantly, the strong cultural fit between our businesses gives me great confidence that we will continue to deliver exceptional value to our customers, suppliers and people.”

Flight Centre Global CEO and managing director, Graham Turner, said: “This acquisition creates significant future opportunities in the global cruise market. Iglu brings a leading UK position, a strong brand, and a scalable technology platform that aligns with FCTG’s strategic objectives. The business also has a strong people network and a strong culture that aligns with our own.”

The FCTG UK business now includes the Flight Centre, Scott Dunn and Cruise Club UK leisure brands, plus the Corporate Traveller and FCM corporate travel management businesses.

Outgoing Iglu founder and non-executive chair Richard Downs added: “It’s been a remarkable journey of resilience, creativity and technical innovation, since I started Iglu in a small office in Baker Street with a dedicated team.

“I’m delighted to see Iglu, now the dominant European online retailer of cruise and ski holidays, become a hugely valued part of one of the largest travel companies in the world.”