In September 2007, CVC completed the £6.15 billion merger of Saga and the AA, under a new company, Acromas Holdings. The merger combines two of the UK’s strongest and most trusted brands into a powerful financial, motoring and travel services business, under a management team with extensive experience in building and growing an affinity business.
Saga is a leading provider of financial services in the UK; its business includes insurance, financial services, holidays, cruises and other products, all targeted at the over 50s market.
The AA is the UK’s leading motoring organisation with around 15 million members; its business includes roadside recovery, motor and home insurance, publishing and a driving school.
The merged business is the UK’s leading membership-based company, with a combined database of 24 million individuals, providing substantial scope to offer Saga’s wide range of products to AA members aged 50 and over, and the AA’s roadside recovery and other products to Saga customers.