Kuoni Switzerland to acquire Touring Club Schweiz's travel business|
The travel business activities of Touring Club Schweiz (TCS) are to
be taken over and continued by Kuoni Switzerland with effect from 1
December 2009. The business extends to ten travel offices and the
provision of travel products that are marketed under the "Reisen TCS"
brand. The vacation products concerned will continue to be offered to
TCS members under a collaboration with the organisation, and will
additionally be available from the about 100 retail offices of Kuoni
and Helvetic Tours. The 65 to 75 personnel affected will continue to
"In acquiring this travel business and continuing it under a
collaboration with TCS, we can carry on offering the organisation's
members tailored vacation products on advantageous terms," says
Stefan Leser, CEO of Kuoni Switzerland. "At the same time," he adds,
"this acquisition enables us to further optimise our own network of
travel offices throughout the country."
The ten TCS travel offices acquired will be refurbished as Kuoni
branch offices. The "Travel Club" and "Wunderwelt" product lines will
be retained; and additional travel products will also be created and
offered to TCS members on the usual privileged terms.
At the same time, Kuoni is embarking on a collaboration with TCS to
market these products to members. The products will additionally be
available at all of the about 100 retail offices of Kuoni and
Helvetic Tours, giving TCS members a prime new source of assistance
and advice for their personal travel plans.
The "Reisen TCS" workforce of between 65 and 75 personnel (including
all twelve apprentices) will continue to be employed. The parties
have agreed not to divulge the purchase price involved.
"With our tour operating expertise and our comprehensive travel
office network, we will be able to further strengthen the Reisen TCS
brand," says Benno Iten, Head of Sales at Kuoni Switzerland.
For full documents please see attached links.
For further information:
Head Investor Relations
Kuoni Travel Holding Ltd.
T +41 44 277 4529
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