Cox & Kings sells camping division
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Cox & Kings has announced the sale of its subsidiary Holidaybreak Ltd’s camping division.
The deal, which was valued at INR8.92 billion (US$151 million), will see the camping arm acquired by Homair Vacances, a French company that specialises in outdoor holidays.
“The sale of camping is consistent with our strategy of becoming a leisure and education travel group and allows us to focus on these businesses that have a global footprint and market leadership position,” said Peter Kerkar, director of Cox & Kings.
Alain Calmé, chairman of Homair Vacances, said the acquisition was a “major development” for his company and that Homair would “respect the DNA” of the camping company.
The Holidaybreak camping division provides outdoor family holidays at more than 170 third party-owned campsites across 12 European countries.
India-based Cox & Kings acquired the unit as part of its acquisition of Holidaybreak in 2011.
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