UK-based Travelopia, a specialist travel group, has been acquired by the global investment firm KKR. The company was bought from the German firm TUI for €381 million, reports Market Watch.
Travelopia provides customers with specialized holidays including sailing adventures, sports tours, school expeditions, private jet travel and polar expedition cruises. The company serves over 800,000 travellers each year and with over 70 destinations globally through its 53 brands.
In September, TUI said it was seeking to sell the company. KKR has recently invested in other travel companies including PortAventura in Spain and Trainline in the UK. KKR's executives suggested that the choice of investments has to do with higher travel demand, especially among older customers.
"KKR has a longstanding and successful track record with corporate carve-outs, in particular in Europe," said Edouard Pillot, KKR Europe's director & head of business services in a press release.
Read more: Market Watch
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