Lidl E-Commerce acquires JT Touristik
Berlin-based travel company JT Touristik GmbH (“JTT”) has been acquired by LIDL E-Commerce. Following an international investor process, Lidl E-Commerce International GmbH & Co. KG (“LIDL”), an affiliate of German Schwarz Gruppe, acquired JTT. German Schwarz Gruppe is a private family-owned retail group that owns and operates the Lidl and Kaufland brands, and thereby the fourth-largest retailer in the world by revenue. The acquisition is subject to approval by antitrust authorities, the transaction is expected to be completed by mid-January 2018 at the latest.
JTT, founded in Berlin in 2009, has successfully established itself as one of the leading European dynamic tour operators with a turnover of EUR 156 m in 2016.
Saxenhammer & Co. Corporate Finance GmbH (Berlin) approached potential investors in Europe, the United Arab Emirates and the US within the scope of an elaborated investor process. Against various other bidders, the purchase approach of LIDL prevailed.
LIDL acquired the operating business of JTT through an asset deal, the entire staff will be taken over by LIDL. Managing Director Jasmin Taylor will leave the company as of January 1st, 2018.
Christoph Hahn, Director and head of travel at Lidl E-Commerce International, says: “This acquisition strengthens our existing travel business. JT’s expertise fits in quite well with the skills we’ve built up over the last decade.“