ITC Luxury Travel has acquired Western and Oriental in a “multi-million pound deal”.

Following the deal ITC is now the owner of its four businesses, Rainbow Tours, Regent Holidays, Villa Select and Western & Oriental.

It will allow ITC Luxury Travel to run a collective of seven key companies, including ITC Sports, which will ensure the operator has a truly global offering.

The new acquisition comes in the wake of last August’s MBO at ITC which was undertaken in conjunction with private investor, ITC chairman and former Capita chief executive Paul Pindar.

Since then ITC Luxury Travel chief executive Jennifer Atkinson has operated a targeted strategy to buy and build businesses within the luxury sector and this deal is the latest part of the plan.

Following the acquisition, the combined turnover of the enlarged ITC Luxury Travel Group will be more than £75 million, with the group expected to generate a pro forma profit of circa £3.5 million.

The new figures will nearly double the £47 million turnover and the £1.7 million profit generated in 2014/15, the group’s most successful year to date.

Atkinson said: “The addition of the Western & Oriental Group of companies brings a wealth of talented and experienced people, well-respected brands within the travel market and gives ITC the opportunity not just to expand on its core ‘luxury beach’ programme but also to grow and develop its touring destinations.

“Over the coming months we will be working together as a group to look at how we best create and optimise the opportunities of being the UK’s largest independent one stop luxury and tailor-made travel company.

“This is very much an exciting new chapter in ITC’s long and successful business history and we are genuinely excited about all the opportunities this presents.”