Kuoni acquires Melbourne-based tour operator
Switzerland's largest tour operator Kuoni has secured a foothold in the Australian market with the purchase of Melbourne based Australian Tours Management Pty Ltd.
The Kuoni Group announced that is to acquire the business activities of ATM but the value of the deal was not disclosed.
In the business year ending June 2008, ATM reported a turnover of SFr21 million ($19.16 million). The Australian company will keep its name, employees and management team.
According to Kuoni, ATM is a specialist in leisure and special travel arrangements and is strongly positioned in the Indian and Far East markets.
“Australian Tours Management ideally complements our activities in Asia,” Rolf Schafroth of Kuoni said. “We see significant growth potential in Australia in the medium term, especially for travellers from Asian countries.”
Kuoni posted a net profit last year of SFr136.3 million, a 16.8 per cent improvement compared with 2006 and the highest recorded by the group.
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