Palatine-backed Icelolly.com to combine with TravelSupermarket to create a standalone holiday comparison business
We have agreed to combine our portfolio company Icelolly Marketing Limited (Icelolly) with Moneysupermarket.com Group PLC’s TravelSupermarket (TSM), enabling stronger and broader travel comparison services across both brands.
Leeds-based Icelolly.com is an online package holidays travel intermediary, specialising in price comparison and deals, and will complement TSM’s comparison services for holidays, flights, hotels, car hire and travel ancillaries. Both brands will be retained, with each benefiting from revenue diversification, shared commercial expertise and greater audience reach.
Icelolly.com brings an experienced senior team from the travel industry to the new joint venture, including CEO Richard Singer who will lead a common management team across both brands.
MoneySupermarket Group will remain the major shareholder of the new entity alongside us and the senior management team.
Completion of the transaction is conditional on the receipt of clearance from the Competition and Markets Authority.
Andy Lees, Partner at Palatine, said: “The ethos of the business will continue to have consumers at its heart. Digital innovation and access to a large pool of travel providers will offer customers a more comprehensive and accessible comparison experience”.
Peter Duffy, CEO of Moneysupermarket Group, said: “The combination of TravelSupermarket and Icelolly.com will benefit customers of both brands with a richer and more diversified offer as the travel and holiday markets recover. As well as unlocking commercial benefits, the creation of a standalone entity under a dedicated management