Matthew Pack, Group CEO Holiday Extras

Management buyout places 55% of the company into an employee benefit trust

Holiday Extras, the UK’s market leader for travel extras with more than 7m customers, today announces the completion of a management buyout which values the company at close to £100 million and places 55% of the company’s equity into an employee benefit trust.

Natwest, a longstanding financial partner of Holiday Extras, funded 50% of the £30 million transaction, with the remainder covered by medium term shareholder borrowing.

The deal lays the foundation to support the growth in shareholder value planned for the next five years. It also confirms that 12.7% of the company’s value will be ring-fenced to distribute to employees in the event of a future sale.

The business is growing ahead of the UK travel market. Expanding organically and through acquisitions which include Chauntry Corporation Ltd, and the well-known brand Purple Parking, this growth will include new locations across Europe and an evolved product offering, both of which will be unveiled later this year.

Matthew Pack, Group CEO of Holiday Extras, says: “Today marks an exciting milestone in Holiday Extras’ development as we set the stage for the future by strengthening the ownership and value of our business, and putting in place an exciting development plan for the next five years.

“Holiday Extras’ experienced management team and dedicated staff are crucial to our future success, and I’m delighted that there is now a robust mechanism in place to share the value of the company with them.”

Holiday Extras’ management team is led by Group CEO, Matthew Pack, who is supported by Simon Hagger (deputy CEO), David Norris (Chief Operating Officer) and Andrew Parker (Chief Financial Officer). The company’s group board consists of Pack, Parker, along with Mark Smith (Non-Executive Chairman) and David Kelly and Jeremy Pack (Non-Executive Directors).

Carol and Gerry Pack, the original founders of the business, said “Holiday Extras is in good hands. The team are brilliant, lively, energetic and progressive. We love the plan and the vision.”

The company has a proven technology track record. It employs over 100 software engineers, data engineers and data scientists, and was last year one of the first businesses to embrace ‘one-click buying’ following the expiry of the Amazon patent.

Grahame Wells, Relationship Director, Commercial and Private Banking at Natwest, says: “I’m delighted to have Holiday Extras as a client. They have an impressive team, ambitious targets and more importantly offer a brilliant service to the customer and their partners.”


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About Holiday Extras


Holiday Extras was set-up by the Pack family 35 years ago, and today makes arrangements for seven million travellers every year.

The business was initially conceived to enable travel agents to easily book airport hotels, and has today expanded to include: airport parking, hotels, airport lounges, travel insurance as well as short breaks, along with the fast-growing car hire and overseas transfers divisions.

Partners include Thomas Cook, TUI, SAGA, Merlin Entertainments, Manchester Airport Group, Allianz, Paultons Park, easyJet, Carnival Cruises and Fred Olsen.

Holiday Extras has offices in Munich, Germany and near Folkestone in the UK, employing ~1000 people. In 2017, it was voted as one of the Sunday Times Top 100 Companies to Work for the eleventh year in succession.


For more information about the MBO please contact:


Charlie Hampton / Victoria Naylor-Leyland

Pembroke and Rye

Tel: 07884 187297 / 07899 890908