TQ3 Travel Solutions has announced its expansion into Canada, South Africa, Turkey and Germany by acquiring the business travel activities of Kühne & Nagel International AG.
The acquisition includes the following companies (subject to approval by the anti-trust commission):
In addition to marking the entry of TQ3 Travel Solutions into the Canadian, South African and Turkish markets, this move also reinforces the global expansion strategy of the company. Furthermore the agreement increases TQ3’s share in the Bremen-based Stute Reisebüro from 50% to 100%, a move that further empowers TQ3’s overall business activities in Germany.
Commenting on the expansion, Marc Hildebrand, Chief Executive Officer of TQ3 Travel Solutions said: “I am delighted that TQ3 has strengthened its presence in these countries increasing corporate ownership in key markets. We look forward to extending our services throughout these regions and building new partnerships.”
TQ3 Travel Solutions is the provider of end-to-end travel expense management solutions. The company is owned equally by Maritz Inc. of St. Louis, Missouri and by Preussag AG of Hanover, Germany.
