01.03.2010

VIA Travel buys Swetravel and looking for more acquisitions in Finland and Sweden

Norwegian-owned VIA Travel, already the largest travel management company in the Nordic countries, is looking to boost its market share to 25-30% in Finland and Sweden.

Via Travel Group, owned by Norwegian venture fund FSN Capital, has acquired the Swedish travel agency chain Swetravel AB. VIA Travel has over the recent years established itself as the largest Travel Management Company in the Nordic region through targeted acquisitions in Norway, Sweden, Denmark and Finland.

This latest acquisition gives VIA Travel almost a 20 percent market share in Sweden and makes it the second largest player in the Swedish travel business after American Express. The company is interested in further acquisitions in order to reach a 25-30% share of the market in Sweden and Finland, according to Espen Asheim, CEO of VIA Travel Group.

VIA Travel has a yearly turnover of about EUR 993 million and 1200 employees in 73 Nordic offices. Swetravel is one of Sweden's largest independent travel agency chains with 43 branches and a turnover of about EUR 123 million. Swetravel’s agencies are active within the business, leisure, group and conference/event travel market.


Sources: Dagens Næringsliv, VIA Travel Group