The Sunday Times reports the tour operator will look for between £300 million and £400 million for the business.
According to the Sunday Times, investment banking group Baird will advise on the proposed sale.
Cox & Kings declined to comment when approached by the paper.
PGL, or “parents, get lost”, was bought by the tour operator in 2011 as part of its £312 million purchase of Holidaybreak, which also saw its other brands such as Superbreak and Explore change hands.
The company was founded in 1957 by Peter Gordon Lawrence when he started hosting canoe trips along the River Wye, taking small groups of young adults and making camp on the riverbank.
These trips spawned PGL Voyages and later PGL Travel, nowadays mainly providing educational courses and trips for schools and colleges.
