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Kuoni expands portfolio with new acquisition
The Danish-based tour operator Falk Lauritsen Rejser A/S has been acquired by the Kuoni Group with immediate effect as the company stated. The Falk Lauritsen Rejser specialises in travel to Mediterranean and Caribbean destinations, for which it is excellently established in the Danish market. The Kuoni Group has substantially strengthened its position in Denmark through this latest acquisition.

Under the sale transaction, Kuoni Scandinavia has acquired all the shares of Falk Lauritsen Rejser A/S from Per and Soren Falk Lauritsen, the previous owners and the sons of the company’s founder. Falk Lauritsen Rejser A/S is excellently established in the Danish travel market as a provider of inclusive-tour arrangements to destinations including Spain, Greece, Turkey, Egypt and the Caribbean.

Falk Lauritsen Rejser A/S distributes its products solely via direct sales, around 10% of its turnover coming from internet channels. With a workforce of some 50 personnel, the company generated total turnover of CHF 74 million (DKK 336 million) for the 2005/06 business year, which ended on October 31, 2006. The parties agreed not to divulge the sale price involved.

Kuoni intends to retain the Falk Lauritsen Rejser brand, which is well known and established in the Danish market. The present CEO and his team will also remain to steer the company’s further development and success. In organisational terms, Falk Lauritsen Rejser A/S will be operated as an autonomous unit within Kuoni Scandinavia, which is led by Leif Vase Larsen, and fits excellently into the new Division Smart, which is headed by Stefan Leser and is home to those Kuoni Group companies whose products primarily offer outstanding value for money. Theodore Koumelis - Thursday, August 23, 2007