Home Press Releases Kuoni Global Travel Services to be acquired by JTB Corporation

Kuoni Global Travel Services to be acquired by JTB Corporation

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The partnership formed between Kuoni Global Travel Services and JTB Corporation will open prospects to become a global No. 1 Destination Management Company. The transaction will create opportunities to increase business in growing markets across the world through extension of local product offerings and expanding the complementary Global MICE services.
Reto Wilhelm, CEO of Kuoni Global Travel Services said: ‘JTB is one of the biggest and most respected market players in our industry. Joining JTB provides our company with the best positioned owner, which will help us realize the full potential of Kuoni Global Travel Services. We will be able to further enhance our service and products for customers, while creating scale and efficiency.’
Eijiro Yamakita, President & CEO of the European Regional Headquarters of JTB said: ‘Kuoni Global Travel Services is one of the world’s leading travel companies with an important presence especially in Asian leisure and corporate groups visiting Europe. The acquisition offers an excellent opportunity to be a unique operator by gathering the network and knowledge. It enables the provision of detailed services to meet each customer’s needs with high added-value and the expansion of the inbound business.’
The parties have agreed not to disclose further details regarding the purchase price or their contract. The acquisition is subject to approval by the relevant competition authorities and compliance with any other local legal requirements. The parties contemplate to complete the transaction once all such approvals have been obtained and all local requirements have been complied with. There will be no imminent changes to the current company structure, and the company entities will continue to operate their businesses independently during the transition period.

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