The Kuoni Group is to acquire a 100% shareholding in Cotravel AG effective 1 January 2009. Cotravel is one of Switzerland's leading providers of quality educational travel arrangements, primarily in the form of readers' trips offered in collaboration with top Swiss newspapers and magazines. The acquisition will further strengthen the Kuoni Group's position in the premium travel sector.
 
Cotravel, which was founded in 1986 and is domiciled in Allschwil, near Basel, has been focusing on educational travel arrangements accompanied by specialist guides since 2003, and generated turnover of CHF 5.1 million last year. The company currently employs eight personnel, who will all be retained. The present management team will also remain responsible for Cotravel's further development.
 
The company will remain based at its present domicile near Basel. The Cotravel brand will also be retained. The parties agreed not divulge the purchase price involved. Within the Kuoni Group, Cotravel will be integrated into Strategic Business Unit Switzerland, where it will be assigned to the unit's Tour Operating activities.             
 
Cotravel specialises in devising exclusive carefully-tailored readers' trips in collaboration with various Swiss publishing houses. The trips, which are accompanied by well-known Swiss experts and personalities, are offered all over the world and cover a wide range of themes in the arts-and-culture, science and travel-experience fields. 
 
The acquisition is a further consistent step in the Kuoni Group's growth strategy within the premium segment. "In acquiring Cotravel, we are underlining both the importance to us of the kind of exclusive and sustainable travel products that we already offer in Switzerland through our ananea and cultimo product lines and the further growth potential that we see in these areas," says Max E. Katz, CFO and Spokesman for the Kuoni Group Executive Board.