The boss of Saga will float the company within two years with employees based in Kent set to get a cut from the move, it has been revealed.

About 6,000 staff at the over-50s holiday company and the AA will share a windfall of up to £600m when the Folkestone-based firm is floated for an expected £3bn.

Workers own about 22% of the company. The biggest beneficiary set to be Andrew Goodsell, chief executive of Acromas Holdings, which owns the two businesses.

In an interview with the Sunday Times, Mr Goodsell confirmed he intends to take Saga onto the stock market.

He said: “Saga is likely to float. It depends on the market but I would say over the next 12 to 24 months.”

The announcement ends months of speculation about the future of Saga, which was founded by the De Haan family in Folkestone in 1959.

Since then, the firm has grown to serve 2.7m customers and has six UK call centres, four of which are based in Folkestone at Middelburg Square, Enbrook Park, Cheriton Park and Ross Way.

A fifth is at the Eurokent business park in Ramsgate and the sixth in Hastings.

The business was sold to private equity firm Charterhouse in 2004 and merged with the AA to form Acromas Holdings, which now also owns companies like Allied Healthcare and BSM driving school.

Mr Goodsell is expected to announce new new chief executives for both Saga and the AA soon.

It is expected he will then relinquish executive duties at Saga, becoming non-executive chairman some time after a new boss has been recruited.

The company was keen to reassure staff and customers that the business' future remains in the county.

Acromas spokesman Paul Green said: “Saga remains committed to Kent.

“Our growth and success is predicated based on the great people we employ.

“We are proud to make such a huge and mellifluous contribution to the local economy."