Thomas Cook to buy Kuoni's destination management network

Thomas Cook (India) will acquire Kuoni's global network of destination management specialists, covering 17 countries across various geographies, including America, Africa, Middle East, Asia and Australia.

The company said the deal would be completed post customary closing conditions.

The multinational acquisition creates a strong global network that will transform the the company into a globally integrated travel services provider with the ability to leverage inherent synergies across its global travel portfolio, Thomas Cook (India) said in a regulatory filing.

"Our agreement to acquire Kuoni s global network of Destination Management Specialists in 17 countries, provides us a significant expanded global footprint," Thomas Cook India Group Chairman & Managing Director Madhavan Menon said.

The acquisition is a strong reiteration that the company continues to invest and grow its travel businesses globally with a view to creating strong value for its customer, he added.

The company however did not share financial details.

Destination Management Specialists are local experts with offices in the holiday destinations themselves.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)