A Ross-on-Wye company which specialises in children's adventure holidays has been sold for £100 million.

This year marks the 50th anniversary of Peter Gordon Lawrence forming PGL and starting canoe camping trips down the river Wye, and the firm is set to become part of Holidaybreak PLC.

PGL operates 26 adventure and study centres in the UK, France and Spain and has growing coach tour and ski programmes for schools.

Upon completion of the deal, which is expected next month, PGL will join holiday brands such as Eurocamp, Superbreak and Explore and the financial strength of the larger group will make it easier for PGL to achieve its future growth plans.

PGL chief executive Martin Davies said: "We are delighted to have joined the group because it will help us to achieve our plans, while trusting the existing management team to continue running a successful company.

"It was important for us to keep our head office in Ross-on-Wye, so that was an essential part of our decision."

PGL is one of the main employers in Ross, with over 150 staff working at the head office in Alton Court, Penyard Lane.

The deal should ensure additional employment opportunities in the future.

Mr Davies added: "We try to support the local community in Ross and over the years we have sponsored many initiatives.

"It's part of our culture to be a caring company as well as a successful one."

The firm, named after its founder Peter Gordon Lawrence, was acquired by management after his death in 2004 in a deal valued at £42 million.