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Kuoni builds premium offering with Cotravel acquisition

Kuoni has acquired a 100% shareholding in Cotravel AG for an undisclosed sum, effective 1 January 2009. The acquisition aims to strengthen Kuoni’s position in the premium travel sector.

“In acquiring Cotravel, we are underlining both the importance to us of the kind of exclusive and sustainable travel products that we already offer in Switzerland through our ananea and cultimo product lines and the further growth potential that we see in these areas,” said Max E. Katz, CFO and Spokesman for the Kuoni Group Executive Board.

Cotravel is one of Switzerland’s leading providers of educational travel arrangements, primarily in the form of readers’ trips offered in collaboration with Swiss newspapers and magazines.

Founded in 1986, it has been focusing on educational travel arrangements accompanied by specialist guides since 2003, and generated turnover of CHF 5.1 million last year. The company currently employs eight personnel, who will all be retained. The present management team will also remain responsible for Cotravel’s further development.