Flight Centre has agreed to buy 90% of Topdeck shares for a minimum of £21.84 million.
Under the deal, all of the UK tour operator’s shareholders will sell their stakes to Flight Centre with the exception of Topdeck managing director James Nathan, who will hold the remaining 10% and continue to oversee the business.
Turner said: “We are very interested in building a global youth business. We would like to get into other areas [besides tours] that 18-to 25-year-olds like to participate in.”
Flight Centre announced a 10% rise in underlying pre-tax profit to AU$376.5 million for the year.