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 mn. in 2016. End of September 2017, the company had to file for insolvency. The District Court of Berlin appointed PLUTA Partner Dr. Stephan Thiemann on October 5th, 2017 as preliminary insolvency administrator.
With the support of Dr. Thiemann, JTT managed to continue its business operations even after the initiation of the insolvency proceedings. At the same time, potential investors in Europe, the United Arab Emirates and the US were approached by Saxenhammer & Co. Corporate Finance GmbH (Berlin) 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.“
Dr. Stephan Thiemann says: “We have achieved the ideal solution for JT Touristik. With Lidl E-Commerce International, we succeeded to find a renowned buyer who will successfully continue the business of JT Touristik, this is a very gratifying result. The work of the past weeks finally paid off.”