Kuoni Group sells tour business to DER Touristik
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Kuoni Group has agreed a takeover deal with DER Touristik, the travel division of REWE Group, that will see the German company acquire Kuoni’s network of tour operators, specialists and travel agencies in the UK, Scandinavia and Benelux.
The takeover will see all employees and brands retained in each market, including the Kuoni, Apollo and specialist brands.
“The successful sale of our European tour operating activities marks a significant milestone in the development of the Kuoni Group,” said Peter Meier, CEO of the Kuoni Group.
“European tour operating has been closely associated with the Kuoni name for more than 100 years. Our tour operating businesses and all their brands are now being taken over by the REWE Group and its experienced DER Touristik travel division, which will integrate them into its growth strategy. I am pleased that with this sale we have found an ideal, forward-looking, long-term solution for our customers and employees.”
Heinz Karrer, chairman of the Board of Directors of the Kuoni Group said: “With the sale of the entire European tour operating business we can complete the new strategic direction of the Kuoni Group more quickly than planned.”
The tour operating activities will continue to trade under their existing brands. REWE Group is acquiring the right to use the Kuoni brand in Switzerland and the UK, while Kuoni Group remains the owner of the Kuoni brand. REWE Group is taking full ownership of the Apollo brand in Scandinavia/Finland and of all the specialist brands.
Kuoni intends to complete its search for a buyer for the remaining tour operating activities in India and Hong Kong/China during the course of 2015.
Kuoni Group announced in January 2015 that it would be concentrating on its core business as a service provider to the global travel industry and governments.
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