LONDON (ShareCast) - Holidaybreak, the European short-break holiday specialist, has beefed up its education division with the acquisition of an educational tour operator.

Holidaybreak is buying Hertford Travel Group, the holding company of educational tour operator European Study Tours (EST), for £4.05m.

In the year to 31 August 2007, EST reported earnings before interest, tax, depreciation and amortisation (EBITDA) of about £0.5m on normalised turnover of £5.7m.

The acquisition is expected to be earnings enhancing in the current financial year.

EST will be integrated into Holidaybreak’s Education Division, which was formed after the acquisition of school trip specialists PGL and NST last year. Specifically, EST will be combined with NST’s StudyLink operation, which provides group travel for university and college student groups.

Brendan Jones, currently Managing Director of EST, will spearhead the expanded Higher Education team, and will represent the Further Education and Higher Education segment in the Education Division management team.

Carl Michel, chief executive of Holidaybreak, hailed the acquisition, claiming it is a “very well run business” that will increase the division’s growth prospects.

• News Channel