The Kuoni Group has taken a further step in its declared acquisition strategy within the specialist travel segment: Kuoni Switzerland has acquired Kontiki Saga AG, the Swiss market company for…
The Kuoni Group has taken a further step in its declared acquisition strategy within the specialist travel segment: Kuoni Switzerland has acquired Kontiki Saga AG, the Swiss market company for travel to Northern Europe. The acquisition enables Kuoni to further expand its leadership of the Swiss travel market.
Kuoni Switzerland is acquiring Kontiki Saga AG from its owners and top management. Kontiki has been operating in Switzerland for 30 years, and is the market leader for travel to Scandinavia, Finland and Iceland. The company offers vacations and tours to Northern Europe all year round, and also combines these with the famous Hurtigruten coastal shipping services. Kontiki generated turnover of some CHF 40 million last year with a
workforce of around 40 employees, all of whom will be taken over by Kuoni. The parties agreed not to divulge the purchase price involved.
The Kontiki brand, which already enjoys a strong reputation in the Swiss market, will be retained under Kuoni ownership. The present Kontiki management team and workforce will also continue to work unchanged to lead the company and its products to further development and success. Kontiki will be integrated into Kuoni’s Strategic Business Unit Switzerland in organisational terms.
“Our acquisition of Kontiki provides Kuoni Switzerland with access to destinations in Northern Europe that have hardly figured before in our product offer,” says Armin Meier, CEO of the Kuoni Group. “It also underscores our overall Group strategy of expanding our activities in promising niche markets.”
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