Kuoni Steps into German Market with New Purchase

Kuoni is entering the German market by acquiring a 100 percent stake in Conference & Touring GmbH, based in Berlin, with effect from the beginning of 2008. Conference & Touring GmbH is one of Germany’s leading destination management agencies.

Its head office is in Berlin and it has branches in Munich, Hamburg, Frankfurt and Cologne. The takeover agreement was signed the last Friday and the transaction is expected to be completed in time for January 2008.

This acquisition underlines Kuoni Group’s expansion strategy in destination management, and especially in the meetings, incentives, conferences and events business, as well as in the organization of onshore trips for cruise companies.

The takeover agreement was signed the last Friday and the transaction is expected to be completed in time for January 2008. Conference & Touring GmbH was founded in 1989.

Its head office is in Berlin and it has further offices in Munich, Hamburg, Frankfurt and Cologne. It employs 54 staff and expects to post sales of CHF 24 million (EUR 14.4 million) for 2007. The parties have agreed not to disclose any information about the purchase price.