The Kuoni Group continues to pursue its policy of targeted acquisitions within the specialist travel sector: Kuoni Travel Group India has acquired Distant Frontiers, one of the…
The Kuoni Group continues to pursue its policy of targeted acquisitions within the specialist travel sector: Kuoni Travel Group India has acquired Distant Frontiers, one of the destination management companies in the local Indian market and a specialist in premium-segment travel. In taking this step, the Kuoni Group is both underlining its current expansion strategy and further strengthening its position in the Indian market.
Kuoni Travel Group India, which is India’s biggest travel organisation, will integrate Distant Frontiers into its SITA subsidiary. The new acquisition will remain a separate business entity, and will continue to address and appeal to the premium travel market through its own well-established brand. The present Distant Frontiers top management of Dipak Deva, Roma Satara and Jacqueline Du Noyer, from whom Kuoni has acquired the company, will join the Kuoni India management team. They will remain responsible for the Distant Frontiers business unit and its further positive development, and will report directly to SITA Chief Operating Officer Himmat Anand.
Distant Frontiers, which was founded in 1994 and is domiciled in Delhi, generated total turnover of more than CHF 8.5 million in 2005. The entire Distant Frontiers workforce of 30 employees will be retained under the terms of the transaction. The parties agreed not to divulge the sale price involved.
“I am delighted at our new acquisition,” says Zubin Karkaria, CEO & Managing Director of Kuoni India. “SITA is already the market leader in group and charter travel. Our new acquisition fits ideally into our overall business strategy, and will enable us to further consolidate and expand our already-strong positions in the individual and incentive travel markets.”
The acquisition will be marked today at a media conference in Delhi which will also be attended by Reto Wilhelm, Kuoni Group Executive Vice-President Europe, Asia & Destination Management. “Strategic acquisitions are a vital part of the Kuoni Group’s global growth policy and activities,” Wilhelm explains. “We see tremendous potential in the Indian market; and our acquisition of Distant Frontiers will enable us to further strengthen and develop our position as India’s number one.”
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
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