Kuoni Group acquires Sweden’s luxury tour operator Lime Travel AB

The Kuoni Group acquired Swedish luxury tour operator Lime Travel AB. The Stockholm based Lime Travel AB firm is a specialist in offering tailored long-haul travel arrangements. The acquisition will further expand Kuoni’s activities in the Scandinavian premium travel sector. Kuoni also expects to derive synergies between its new acquisition and its existing high-value Kuoni products.  
 
Lime Travel AB was founded in Stockholm back in 1995, and generated turnover of around CHF 9.3 million last year. Under the terms of the acquisition, all of Lime Travel’s 14 employees will be retained, and the present co-owner and company CEO will also remain responsible for the company. The financial details of the transaction were however not disclosed. Lime Travel will be integrated into the Swedish unit of the Kuoni Group’s Division Market Region North.

Lime Travel is one of Sweden’s leading luxury tour operators and offers tailored-made travel arrangements, with a particular focus on Mauritius, Bali, the Maldives and the Caribbean. The company’s products are sold almost exclusively through direct customer contact at its own travel offices and over the phone. Lime Travel has no flight or hotel capacity risks.

Leif Vase Larsen, Executive Vice-President Northern Region of the Kuoni Group and CEO of Kuoni Scandinavia, noted that in acquiring Lime Travel, the group is expanding its business activities in the Swedish luxury travel sector.  Larsen reiterated the group’s new acquisition should also offer synergies with the existing premium Kuoni products. At the same time, noted Larsen, the investment should enable the group expand its luxury travel business into its Norwegian and Danish markets.

The Kuoni Group is one of the world’s leading globally-active leisure travel organizations, with a worldwide workforce of 9, 070 employees and consolidated turnover for 2009 of CHF 3 894 million. Kuoni’s activities are focused on its core leisure travel and destination management businesses. Kuoni Travel Holding Ltd’s head office is in Zurich, Switzerland.

The Kuoni Group has steadily and systematically developed its position in the world travel market over the years, and has branch operations today in more than 40 countries in Europe, Asia, Africa, Australia and North America. In the premium and specialist segment, Kuoni is the world’s number-one provider. Kuoni’s investment and growth strategy is aimed at turning the group into one of the most successful and globally established tourist travel company in this business segment.

9th March 2011

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