Kuoni Acquires Journeys of Distinction
The Kuoni Group has acquired the British travel company Holiday Supplies Ltd.
LONDON, UK, Ocotber 2, 2006. With its premium brand "Journeys of Distinction", Holiday Supplies has earned an excellent reputation as a provider of longhaul holidays for discerning travellers. The acquisition underlines Kuoni's strategy of expansion in the specialist and premium segments.
Kuoni UK is buying Holiday Supplies Ltd. from its owners and founders. Started in 1972, this company is well established in the UK market for high quality escorted tours to New Zealand, Australia, Ecuador/Galapagos, South Africa, Canada and China. All holidays are sold direct to the customer. The company offers escorted tours in the premium segment under the "Journeys of Distinction" brand whilst its "Go Touring" brand offers escorted tours in the mid-range segment.
It also has a "Cruise Options" division which organises cruises. In 2005, Holiday Supplies Ltd. generated sales of CHF 43 million (lb18.5m) and employed 20 staff. The parties have agreed not to disclose any information about the purchase price.
The existing management team and all employees of Holiday Supplies Ltd. will retain responsibility for the success and further development of their businesses. In organisational terms, the company will become a subsidiary of Kuoni UK and will continue to operate "Journeys of Distinction", "Go Touring" and "Cruise Options", all well established brands in the UK market.
"With the acquisition of Holiday Supplies Ltd., Kuoni UK is gaining strength in the premium escorted tours segment out of the UK" said Armin Meier, CEO of the Kuoni Group. Sue Biggs, Managing Director of Kuoni UK added, "We're very excited about this new addition to the Kuoni UK family, particularly as Journeys of Distinction is such a well respected specialist tour operator."
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