The acquisition also includes diving firm Regaldive.

TTG broke the news in October that ultimate owner Cox & Kings was looking to offload the adventure travel specialist.

Explore and Regaldive join the Hotelplan’s existing portfolio of activity and experience holiday companies, which includes winter specialists Inghams, Esprit Holidays, Ski Total, Santa’s Lapland and short breaks operator Inntravel.

Hotelplan UK’s chief executive, Andy Perrin, said: “We are thrilled to welcome two such highly respected companies to our existing family of specialist travel brands.”

Peter Kerkar chief executive of Holidaybreak Group, said: “Our decision to sell Explore is undertaken following strong interest in its acquisition by trade buyers.

“We recognize that the continuation of its recent strong performance will be best facilitated by a dedicated tour operating group such as Hotelplan UK.”

No personnel or location changes are planned, and Explore Worldwide and Regaldive will continue to operate from their current offices under the existing leadership.

Explore came under Cox & Kings’ ownership as part of the £312 million acquisition of Holidaybreak in 2012.