Genui acquires Berge & Meer and Boomerang Reisen for €100m

The Hamburg-based firm is currently investing from its Genui Fund, which held its final close on €407m in 2016.

TUI sold the companies because they generated few synergies with other TUI businesses. The group is also trying to reduce its dependence on the traditional tour operator business.

The two companies are expected to deliver combined revenues of around €276m in 2019.

The transaction is subject to regulatory approval and is expected to close on 1 October 2019.

Previous funding
In 2003, TUI raised its stake in Berge & Meer from 40% to 75%. At that time, the company generated revenues of €132.5m.

TUI's annual report for 2018 stated that it wholly owned Berge & Meer.

TUI acquired 49% of Boomerang Reisen in 2010. At the time, the company generated revenues of €18m.

In 2012, the group expanded its share in the company to 75%. TUI's annual report for 2018 stated that it wholly owned Boomerang Reisen.

Company
Based in Rengsdorf and founded in 1978, Berge & Meer employs 260 people. The company offers guided tours, small-group tours, luxury tours and cruises in locations around the world.

Based in Trier, Boomerang Reisen offers bespoke long-haul trips to Oceania, Africa, and North and South America. Founded in 1994, the company employs around 60 people.

People
TUI Group – Fritz Joussen (CEO).

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