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transportation giant First Sightseeing buses have expanded after the addition of an operator London And bath.
The FTSE 250 company tells shareholders it has acquired the UK sightseeing operations of French firm RATP Development SA for around £17 million.
It said the deal will help expand and diversify its operations in key markets.
The acquired business operates under the Tutebus brand and operates 63 buses, 42 in London and 21 in Bath.
The Tutbus business also includes a large freehold depot. wandsworthSouth West London, and a leased depot in Keynsham, Bath.
It said the London depot would help the group manage its operations in the capital and allow it to bid for additional Transport for London Red bus route contracts.
The business, which also runs an airdecker service from Bath to Bristol Airport, employs around 190 people across its operations.
TutBus’s UK operations reported revenues of £15.9 million in 2023 and an operating loss of around £600,000 for the year, the company said.
Graham Sutherland, chief executive of FirstGroup, said: “The acquisition of bus operations in London and Bath, in line with our UK-focused growth and diversification strategy, will allow us to further diversify and expand our footprint in our two key markets.
“The integration of the businesses will also create material operational and cost synergies and the opportunity to grow our London route portfolio over time.”
shares FirstGroup was 1.5% higher on Thursday.