Flight Centre Travel Group has strengthened the European footprint of its flagship global business travel division, FCM Travel Solutions, with the announcement that it has taken 100% ownership of 3Mundi, FCM’s partner in France and Switzerland.
In July 2017, Flight Centre Travel Group (FCTG) made an initial 25% investment in 3Mundi, which has been a licensee partner of FCM since 2015. On June 30th 2019, FCTG acquired the remaining 75% of 3Mundi’s business.
3Mundi was established in 2006 by Jordy Staelen and Simon Renaud as a progressive agency combining high-performing technology and human talent to optimise business travel services. Thanks to its innovative business model, 3Mundi has grown rapidly over the last six years achieving growth of over 35% per annum.
The company’s managing director, Solenn Le Brazidec, will continue to oversee 3Mundi’s day-to-day operations and has been appointed FCM Travel Solutions’ president for France and Switzerland.
Steve Norris, Corporate Managing Director - EMEA, Flight Centre Travel Group commented: “FCM and 3Mundi have enjoyed an excellent partnership since 2015 and we forged a closer bond in 2017 when we first invested in the business. We are excited to be investing in this further acquisition which will give FCM an even stronger presence in France and Switzerland."
He added: "Both markets are important corporate travel hubs – in fact, France is now the sixth largest corporate travel market in the world. The extension of our relationship with 3Mundi will unlock further benefits both for their local customers as well as FCM’s multi-national clients. This is a significant future growth opportunity for FCM and we are delighted that Solenn Le Brazidec will continue to lead the business in the role of president for France and Switzerland.”
Solenn Le Brazidec, president FCM France and Switzerland said: "Since we signed our first partnership with FCM in 2015, we realised that we share the same values, the same pioneering spirit and the same ambition. The incredible opportunity to carry the FCM brand for the last four years has allowed us to grow and triple our turnover. By becoming a wholly owned subsidiary of the Flight Centre Group, we will have a stronger global offering for our customers, greater technological integration and more opportunities for growth. "
In addition to the UK & Ireland, FCM’s equity-owned footprint in Europe now extends to Germany, France, Netherlands, Switzerland, Sweden, Norway, Finland and Denmark.