Kuoni Switzerland to Acquire Touring Club Schweiz's Travel Business

The travel business activities of Touring Club Schweiz (TCS) are to be taken over and continued by Kuoni Switzerland with effect from 1 December 2009. The business extends to ten travel offices and the provision of travel products that are marketed under the Reisen TCS brand. The vacation products concerned will continue to be offered to TCS members under a collaboration with the organisation, and will additionally be available from the about 100 retail offices of Kuoni and Helvetic Tours. The 65 to 75 personnel affected will continue to be employed.

"In acquiring this travel business and continuing it under a collaboration with TCS, we can carry on offering the organisation's members tailored vacation products on advantageous terms," said Stefan Leser, CEO of Kuoni Switzerland. "At the same time," he adds, "this acquisition enables us to further optimise our own network of travel offices throughout the country."

The ten TCS travel offices acquired will be refurbished as Kuoni branch offices. The "Travel Club" and "Wunderwelt" product lines will be retained; and additional travel products will also be created and offered to TCS members on the usual privileged terms.

At the same time, Kuoni is embarking on a collaboration with TCS to market these products to members. The products will additionally be available at all of the about 100 retail offices of Kuoni and Helvetic Tours, giving TCS members a prime new source of assistance and advice for their personal travel plans.

The "Reisen TCS" workforce of between 65 and 75 personnel (including all twelve apprentices) will continue to be employed. The parties have agreed not to divulge the purchase price involved.

"With our tour operating expertise and our comprehensive travel office network, we will be able to further strengthen the Reisen TCS brand," said Benno Iten, Head of Sales at Kuoni Switzerland.

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