Triton's Sunweb buys Corendon's tour operating activities

The agreement consists of the Corendon tour operating activities in the Netherlands and Belgium, the back-office in Turkey, and Corendon Dutch Airlines. It also includes Corendon's brands Karin's Choice, Maris Life, Stip and Gofun. The airline in Turkey and Malta, and the hotels of Corendon Hotels & Resorts are not part of this acquisition.

Towards the end of last year, Triton acquired a majority stake in Sunweb via its €5bn Triton Fund V, which closed in Q1 2019. Joost Romeijn, the company's founder, remained invested in the company.

Company
Founded in 2000 and based in Badhoevedorp, Corendon is a holiday provider serving 750,000 customers a year in the Netherlands and Belgium. The company started as a travel agency and developed into a tour operator.

In 2005, Corendon launched Corendon Airlines International in Turkey, Corendon Dutch Airlines in the Netherlands in 2011, and Corendon Airlines Europe in Malta in 2017. Besides the travel company, Corendon also opened several hotels in Turkey, the Netherlands, Ibiza and Curacao.

The business recorded a turnover of €515m in 2018.

People
Sunweb Group – Joost Romeijn (founder).

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• Topics
• Portfolio management
• Benelux
• Consumer
• Netherlands
• Triton Partners