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Published on Tuesday, June 25, 2019

Amex GBT to buy Kuoni parent's corporate travel arm






American Express Global Business Travel (GBT) is to buy DER Business Travel, the corporate travel arm of Kuoni parent DER Touristik Group.

The acquisition is conditional on receipt of antitrust approvals and is expected to be completed in the third quarter of this year.

The purchase will expand GBT's footprint into Germany's small and mid-sized clients sector while DER's travel management will be enhanced buy GBT's international scale and global network.

In addition, DER's corporate clients will have access to GBT's travel and expense ecosystem and core technology platform.

Elyes Mrad, GBT's senior VP and managing director, International, said: "Given the complementary nature of our businesses, the acquisition is a great opportunity for everyone involved. GBT services many global and multinational clients, while DER is focused on small to medium sized enterprises trading in Germany."

DER MD Mark Tantz said: "This is a special moment for DER Business Travel, its employees and its clients. GBT and DER are both people-driven organisations with a passion for providing the best technology and service to clients.

"With GBT's scale and proprietary tech stack and our expertise and relationships in Germany, this is a real opportunity to offer a new, collective value proposition to German businesses."

DER's corporate travel business is headquartered in Frankfurt and operates in 42 locations across Germany with approximately 600 employees.

DER Touristik owns several travel brands, including Kuoni and DERTour.

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