Purchase may enable Kuoni to expand luxury segment in Norway and Denmark
Kuoni Group has bought the Swedish luxury tour operator Lime Travel AB, a Stockholm-based company specialising in offering tailored long-haul travel arrangements. The acquisition, effective from 28 February, 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 products.
Lime Travel, founded in 1995, generated turnover of around €7.2 million last year. All of its 14 employees will be retained and the present co-owner and CEO will remain responsible for the company. The parties have chosen not to divulge the purchase price. Lime Travel, whose products have a particular focus on Mauritius, Bali, the Maldives and the Caribbean and are sold almost exclusively through direct customer contact at its own travel offices and over the phone, will be integrated into the Swedish unit of the Kuoni Group’s Division Market Region North. The company has no flight or hotel capacity risks.
“In acquiring Lime Travel, we are expanding our business activities in the Swedish luxury travel sector,” says Leif Vase Larsen, CEO of Kuoni Scandinavia. “At the same time, it should enable us to expand our luxury travel business into our Norwegian and Danish markets.”
[pictured: HuaHin beach, Thailand]