Kuoni makes further acquisitions
Contributors are not employed, compensated or governed by TD, opinions and statements are from the contributor directly
Swiss travel company, Kuoni Reisen Holding AG, has made two acquisitions of up-scale tour operators in as many days, Bloomberg has reported. On Tuesday, Kuoni agreed to buy Australian Tours Management Pty Ltd, then followed up yesterday with a deal for UK-based Carrier Ltd. Purchase prices have not been reported.
Referring to the Carrier Ltd deal, Reto Wilheln, Division Head of Kuoni’s Style brand, said; “We see sizable potential to collaborate in our marketing to Kuoni’s high-end customers and Carrier’s premium customer base.”
Kuoni reportedly aims to add CHF1 billion (US$907 million) to its global sales between 2006 and 2008 through acquisitions, and the company’s Chief Financial Officer, Max Katz, said that the company was “pretty well on track” to meet its target.
This week’s two deals mark Kuoni’s 6th and 7th acquisitions so far this year.
Comments are closed.