Kuoni travels on with British acquisition

Switzerland's leading tour operator, Kuoni, has announced the acquisition of British travel company, Carrier, which specialises in luxury travel.

This content was published on October 1, 2008 - 08:48

The purchase come just a day after Zurich-based Kuoni said it was securing a foothold in the Australian market by buying Australian Tours Management (ATM) of Melbourne.

Kuoni said in a statement on Wednesday that the British deal further strengthened the group's position in the premium segment.

Founded in 1980, Carrier expects to report SFr72 million ($64.3 million) for its 2007/2008 business year, which ended on September 30.

Under the terms of the deal, Carrier's employees and its brand name will be retained.

Kuoni described Carrier as a "great enrichment" for the group, with its strength in the beach holiday, safari, ski and guided tours segments in the luxury travel market.

As with the acquisition of ATM, no purchase price was disclosed.

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