New owner will help ‘accelerate growth’, says Kuoni's Derek Jones
TTG Staff
The managing director of Kuoni UK has said that a change in ownership will ultimately benefit the company.
Yesterday, Kuoni Group stunned the travel industry by putting its tour operating businesses up for sale.
The UK is one of six country units that will be sold separately. TTG canvassed opinion from industry M&A experts who indicated that the business would not be short of suitors.
“Clearly we’ve gone to market because we anticipate that there will be interest in our brand. It is a great brand. We’ve got lots of heritage, it’s very well respected. We’ve got a great management team. We’ve developed a sustainable strategy over the past five years, which is now coming to fruition,” Jones told TTG.
Jones believes that over the past few years Kuoni UK has behaved like an independent brand and that this spirit will help it attract the right buyer.
“If you look at what we’ve managed to deliver in a corporate environment, we look and feel from the inside and the outside much more entrepreneurial then you’d think. And for me that can only be a positive thing when it comes to future ownership.
“If we can find ourselves in a slightly different environment with more investment and a more entrepreneurial culture, then we have the opportunity to accelerate our growth.”
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"We’re having probably our best turn of the year period for a long time. We see no reason why change of ownership should impact us"
Jones, who said he was made aware of the decision by the Swiss parent company “recently”, also dismissed concerns that the timing of the announcement in the middle of the vital peak booking period had had a negative effect.
“Actually we’re delivering fabulous sales at the moment. It is the busiest time of the year for us and we are having probably our best turn-of-year trading period for a long time. We see no reason why change of ownership should impact us,” he said.
Kuoni’s UK business will be sold in its entirety. This will include the 35 shops and the specialist brands of Carrier, Kirker, Voyage Jules Verne, CV Villas and Journeys of Distinction.
“It will be a fairly standard road to market. We’ll prepare the portfolio, we’ll go to market and invite interested parties to meet with us, discuss the strategy, discuss the business and then move into due diligence with a view to completing a sale before the end of the year.”
Jones joined Kuoni in 2009 after spending 20 years in various positions. TTG asked him whether a change of ownership could signal the end of his time at Kuoni.
“I’ve totally bought into this business and the people and I’m not going anywhere,” he said.
TTG Staff
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