EUROPEAN travel giant Tui AG overnight announced the sale of its Travelopia division to private equity firm KKR, with the deal encompassing a host of brands including Le Boat, Sunsail, The Moorings, Zegrahm and Quark Expeditions. UK-based Travelopia had operated under standalone management as “the world’s largest collection of specialist...
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EUROPEAN travel giant Tui AG overnight announced the sale of its Travelopia division to private equity firm KKR, with the deal encompassing a host of brands including Le Boat, Sunsail, The Moorings, Zegrahm and Quark Expeditions.
UK-based Travelopia had operated under standalone management as “the world’s largest collection of specialist travel brands,” with annual revenue of 1.17 billion and pre-tax earnings of 50 million.
However as a separate division of TUI there had been some uncertainty about its future.
The private equity buyout was welcomed by chief executive officer Will Waggott.
“This is going to be really good for everyone in the business to have a new owner who will focus on what makes these businesses good and invest in what they need to grow,” he said.
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