Fosun has acquired the Thomas Cook brand for £11million in a deal that includes domain names, software applications, social media accounts and licences relating to the Thomas Cook, Casa Cook, Cook’s Club brands.
The Chinese conglomerate was Thomas Cook’s biggest shareholder before its collapse. It also owns Club Med.
Qian Jiannong, chairman of Fosun Tourism Group, said: “The group has always believed in the brand value of Thomas Cook. The acquisition of the Thomas Cook brand will enable the Group to expand its tourism business building on the extensive brand awareness of Thomas Cook and the robust growth momentum of Chinese outbound tourism.
“Meanwhile, the introduction of new hotel brands will further enrich the offering of accommodation choices for tourism destinations business by the Group, diversify our resort and hotel operations and improve the FOLIDAY ecosystem in providing customers with quality holiday experience across the globe.
“After the acquisition of certain Thomas Cook related brands, the overseas acquisition related to Thomas Cook will come to an end for the time being. Following the acquisition, the Group will focus on business expansion, using the newly acquired Thomas Cook brands to create synergies with the existing businesses of the Group.”
It comes after Hays Travel bought all of Thomas Cook’s 555 former stores.