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Kuoni parent open to acquisition opportunities
Kuoni parent DER Touristik UK said it remains open to further acquisition opportunities this year.
The group acquired Journey Latin America four months ago and said it has managed not only to grow its business but also Kuoni’s own Latin America sales.
Speaking at the launch of Kuoni’s Worldwide Travel Report 2019 last night, chief executive Derek Jones said the JLA purchase had given the company the confidence to consider other acquisitions.
"We haven’t finished yet," he said. "The mergers and acquisitions scene is difficult but we remain open to opportunities and hopefully this time next year we’ll be able to add to the list and have a bigger distribution portfolio."
Meanwhile, Jones outlined plans to expand Kuoni’s retail network, both on the high street but mainly through its Kuoni concessions in John Lewis & Partners department stores.
It now as 49 stores across the UK since opening its latest shop in Manchester’s Trafford Centre.
Jones said there were four or five opportunities currently being looked at with John Lewis and Partners and it would consider opening additional high street stores.
He said having the retail network was helping the company ride the Brexit storm.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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