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Thomas Cook (India) Limited has announced the acquisition of the Kuoni Destination Management Specialists (DMS), including Private Safaris Southern Africa.
The agreement further includes all other Kuoni Destination Management Specialists brands, namely Private Safaris (East Africa), AlliedTPro (USA), Asian Trails (South-East Asia), Australian Tour Management (Australia) and Desert Adventures Tourism/Gulf Dunes (Middle East).
Private Safaris Southern Africa was founded in Cape Town, South Africa in 2003, and has since opened offices in Windhoek, Namibia.
In 2015 Thomas Cook (India) Limited, part of Fairfax Financial Holding, purchased the Kuoni (Outbound and Inbound) India business as well as Kuoni Hong Kong. Therefore the global network of DMCs, to which Private Safaris belongs, is set to be reunited with sister companies SITA and SOTC, both headquartered in India).
Monika Iuel, CEO Private Safaris Southern Africa says “We are very excited about the future. Fairfax has a phenomenal history of nurturing businesses into great success stories, and has a reputation for empowered and decentralised management structures that allow companies to flourish. The association with Thomas Cook India will bring growth opportunities for our business through synergies within the group and the entrepreneurial liberties of the new business model.”
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. The parties contemplate to complete the transaction once all such approvals have been obtained.
Sоurсе: tourismupdate.co.za