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Rewe's tour operator eyes more M&A -magazine
FRANKFURT, June 9 |
FRANKFURT, June 9 (Reuters) - TUI and Thomas Cook rival Rewe Touristik is planning further acquisitions or stake purchases following its recent deal to buy Czech tour operator Exim, an executive told German business weekly WirtschaftsWoche.
"We are x-raying the market for all growth options. Countries with increasing household incomes or growing populations are interesting," said Norbert Fiebig, tourism chief of the German retail group.
He said he was also interested in niche tour operators and online portals with strong business models.
"We want to tap into new businesses as well ... Niche operators that organise sporting trips like diving or rafting tours - these companies are interesting since they have built up loyal customer relationships," he said.
Fiebig said a 28 percent plunge in bookings to Greece was barely having an impact on his business so far.
"Revenue rose 3 percent this year overall - despite the crisis in Greece and the floods in Thailand. That means we're growing nearly as strongly as we did last year, when turnover increased 5.1 percent to 4.5 billion euros ($5.6 billion)," he said.
Fiebig added that Rewe would seek synergies between Exim and its retail business in the Czech Republic, by selling more trips through its supermarket chains Penny and Billa.
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