Apollo acquires Camperco for $8.2M

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Tourism company Apollo Tourism & Leisure (ASX:ATL) has completed an AU$8.2 million dollar acquisition of UK company Camperco Group (Camperco).

The consideration for the purchase was a combination of cash and the issue of $4.1 million in Apollo shares.

In addition to the purchase price, a performance incentive of $1.8 million per year is offered if the company achieves its projected earnings.

Camperco is one of the largest independent motorhome operators in the UK.

The company says they are excited to expand operations into the UK and Europe.

Shares in Apollo(ASX:ATL) are trading 2.6 per cent higher to $1.55.