13 Dec 2012

Trade Me picks up holiday home website

1:19 pm on 13 December 2012

Trade Me has bought the Holiday Homes website for an undisclosed amount.

The online auctioneer signed a sale and purchase agreement on Thursday after completing due diligence.

The Richmond-based Holiday Homes site provides a directory of holiday homes, baches and cribs around New Zealand and the South Pacific, and lists activities and service providers close to accommodation providers.

Trade Me says the purchase price is confidential, and the transaction is cash funded.

Chief executive Jon Macdonald says the purchase complements the company's existing portfolio of travel businesses including Travelbug, BookIt and Holiday Houses.

Holiday Home founder Mark Greening will continue as the website's general manager.