KKR To Buy Travelopia From TUI AG

(RTTNews) - Investment firm KKR Monday said it agreed to by travel company Travelopia from TUI AG .

UK-based Travelopia provides providing customers with services, such as sailing adventures, tailor-made holidays, sports tours, school expeditions, private jet travel and polar expedition cruises. Travelopia has a international customer base of over 800,000 travellers each year and serves over 70 destinations globally through its 53 brands, the company said in a statement.

Mattia Caprioli, Member & Head of Services at KKR Europe, said: "The high-end experiential travel market is underpinned by attractive structural growth drivers. These include the growing value consumers place on experiences over goods and the increasing mobility of older travelers. We believe that Travelopia is ideally positioned to benefit from these trends. We intend to leverage our experience in the leisure and travel sector gained through investments such as PortAventura, Get Your Guide, Trainline, Go-Jek and Apple Leisure, to support management in their strategic initiatives."

KKR did not disclose any financial details of the acquisition. The transaction is subject to customary closing conditions.