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Kuoni is expanding its business in the premium holiday market in Italy. Assuming approval is granted by the responsible court, Kuoni will be taking over specialist tour operator Best Tours S.p.A. within the next ten days. Best Tours posted turnover of 39 million euros in 2009. The purchase price offered is 0.7 million euros. The tour operator specializes in beach holidays and historical and cultural tours in the premium sector.
Best Tours was founded in Milan in 1974. Its 34 full-time employees will be kept on after the takeover. The current minority shareholder and managing director will continue to be in charge of product development. Best Tours specializes in beach holidays in the Indian Ocean, Caribbean, Egypt and the United Arab Emirates, as well as cultural and historical tours in North Africa and the Middle East.
Best Tours will initially join the Kuoni Italy unit within the Division Market Region South. This acquisition complements Kuoni Italy’s product portfolio in the premium sector, and will also support sales activities in the planned new Kuoni Retail Shops in Northern Italy.
The company’s main shareholder is currently in liquidation. Assuming approval is granted by the responsible court in Milan, Kuoni will be taking over 100% of the shares of Best Tours S.p.A. within the next ten days.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
