Thomas Cook India buys Kuoni's destination management network

Travel services provider Thomas Cook India Group has completed acquisition of a significant part of Kuoni's global destination management specialists for an undisclosed amount.
With the acquisition, Thomas Cook India Group's travel business network has added 17 new countries, increasing its footprint to cover 21 countries, the company said in a statement.
The Group, prior to this acquisition, had a network spanning four countries -- India, Sri Lanka, Mauritius and Hong Kong.
"This development transforms Thomas Cook India from being a India centric company to a company with global footprint", Thomas Cook India Group Chairman and Managing Director Madhavan Menon told PTI.

Now with a significantly enhanced global footprint across four continents and 21 countries, the group have over 6,500 employees serving customers across the world under some of the most respected brands in the travel space, he added.
The new geographies include North America, South and East Africa, Middle East, Asia and Australia.
Destination Management Specialists are local experts with offices in the holiday destinations themselves.
Shares of Thomas Cook India today closed at Rs 235.90 per scrip on BSE, up 3.40 per cent from its previous close.