Kuoni Reisen Holding AG
Kuoni Travel Holding Ltd.: Kuoni acquires Danish golf travel specialist Krone Golf Tours
Kuoni Reisen Holding AG / Acquisition 02.09.2010 07:01 Dissemination of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- The Kuoni Group acquired Copenhagen-based Krone Golf Tours ApS travel activities as of 1st September 2010. The company is one of Denmark's leading golf travel specialists. The acquisition will enable Kuoni to tap synergies between the new business and Golf Plaisir, the Swedish golf travel specialist which was acquired in 2008. Krone Golf Tours was established in 2003, and generated turnover of around CHF 4 million in the 2008/09 business year. All four employees will join Kuoni under the acquisition; and the company's current general manager will remain responsible for the production and distribution of its golf travel products. Krone Golf Tours will be integrated into the Scandinavian operations of the Kuoni Group's Market Region North division, where it will be affiliated to Golf Plaisir, the Swedish-based golf travel specialist. The parties agreed not to divulge the purchase price involved. The Krone Golf Tours brand name was acquired as well and will be retained. Krone Golf Tours offers tailored golf travel arrangements from Denmark, primarily to Portugal and Spain and to Tunisia and Turkey. The company's products are sold directly via its own call centre in Copenhagen. By affiliating the new acquisition to the Swedish-based golf travel specialist Golf Plaisir (which was acquired in 2008), Kuoni will also be able to exploit sizeable synergies between the two operations. By expanding the destinations available to Egypt and the Canary Islands and adding the option of online product sales, the arrangement should spur growth in the Danish golf travel market. The acquisition marks a continuation of Kuoni's acquisition strategy in the second half of 2010. 'Our acquisition of Krone Golf Tours and the synergies this should generate with Golf Plaisir will help us substantially strengthen our position in the lucrative Scandinavian golf travel market,' said Peter Rothwell, CEO of the Kuoni Group. LAURENCE BIENZ Head of Investor Relations Kuoni Travel Holding Ltd. Neue Hard 7 CH-8010 Zürich P +41 (0)44 277 45 29 laurence.bienz@kuoni.com 02.09.2010 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Kuoni Reisen Holding AG Neue Hard 7 8010 Zürich Schweiz Phone: +41 44 277 4529 Fax: +41 44 277 4031 E-mail: laurence.bienz@kuoni.com Internet: www.kuoni-group.com ISIN: CH0003504856 Swiss Security Number: 894861 Listed: Freiverkehr in Berlin, Stuttgart; Open Market in Frankfurt; Foreign Exchange(s) SIX End of News DGAP News-Service ---------------------------------------------------------------------------
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