Apollo price: 100.000 EUR

"In the future, Apollo will grow the business internally (organic) or through acquisitions / mergers (strategic). The options are always open, but our main goal is to operate a sound and profitable business.

Growth is a natural part of our strategy. In Scandinavia we see the potential to grow in all our markets, through product development of our own concept hotels, individual trips, city breaks and strategic partnerships, “says Leif Vase Larsen, CEO, Apollo, Stockholm to TTO Scandinavia.

Apollo in Sweden, Norway, Denmark and Lomamatkat Suomesta, Finland, have now become a member of a really strong economic family after the Frankfurt-based travel group DER Touristik has bought  Apollo , which was owned by Kuoni in Switzerland .

EU’s and Switzerland’s competition authorities have approved the acquisition without conditions.

The price for the acquisition of Apollo is secret. But banks in Switzerland consider the rate is around 1.1 million SEK.

It is estimated to be cheap because the Apollo in 2013 had a loss of 68 million SEK.

The expanded DER Touristik will have combined revenue of 7 billion Euros and 7.7 million customers, with operations in the tour operator and travel sales business in 14 European countries.

Apollo in Scandinavia will be named Apollo Travel Group with around 1 million guests, 165 000 in Denmark and 780 employees.

Apollo Travel Group include Apollo in Sweden, Norway, Denmark, charter travel agency Falk Lauritsen Rejser, Denmark, Lomamatkat Suomesta, Finland, Lime Travel, Golf Plaisir, Out of Bounds Golfresor, Krone Golf Tours, Swedish charter airline Novair, 48 hotels trading under the Club Calimera and the Playitas sports resort in Fuerteventura.

In terms of structure and travel offering, DER Touristik has adopted its own particular style. “Travel requirements are as individual as the people who travel. That’s why we believe in diversity”, says Soren Hartmann, CEO of DER Touristik Group, rejecting the idea of merging the national entities into a single company. The national entities and brands will continue to exist.

“We will create a European affiliation of very strong tourism companies. Sales and tour operators – as well as the specialist brands – will remain national. If you want to meet individual travel requirements, you have to be close to the customer”, emphasizes Soren Hartmann. Consumers should also benefit from this merger: “Being a large group gives us the leverage to achieve even more with regard to quality and terms. That will be good for our customers”, says Hartmann.

In travel sales, DER Touristik is the market leader in the whole of Germany, with 2,100 sales agencies, the online travel portal der.com and numerous online tour operator portals.

German REWE Group, which owns DER Touristik and now Apollo, has approximately 330,000 employees and reported sales last year of 51 billion Euros.