The UK's largest escorted tour operator, Shearings Holidays, has declined to comment on the speculation that it is to be sold by US-based private equity firm Lone Star.
Unconfirmed sources have said that Lone Star has held talks with bankers such as DC Advisory about selling Shearings either later this year or in 2020.
Speculated to be a multi-million-pound deal, Companies House documents show the group made £788,000 in operating profit in 2017.
In April 2016, the business was purchased by Lone Star.
The wigan-bsed firm has a history dating back to the early 20th century (1903), when Smiths Happiways was established in Wigan.
It was in 1921 that Shearings was establish in Oldham, and, following acquisition by Pleasurama, the two companies merged to form Smiths Shearings in 1987.
Shearings employs more than 2,600 people and offers more than 170 travel destinations.