ADNEC Group Acquires French Tourism Group Karavel

The UAE-based Abu Dhabi National Exhibitions Company (ADNEC) Group on Tuesday said that it has acquired Karavel, the French tourism group, from Equistone Partners Europe, one of Europe’s leading mid-market private equity investors.

Karavel is one of the largest tourism groups in France, offering travel packages to Europe, Middle East and Africa (EMEA) through its vast online and offline distribution network. Completion of the deal remains subject to regulatory approval and customary closing conditions.

This acquisition reflects the active deployment of ADNEC Group’s strategy to geographically diversify its core sectors. It will strengthen the Group’s international expansion while enhancing Karavel’s growth and expansion into new markets and providing access to ADNEC Group’s portfolio of assets and expertise in the tourism sector.

This strategic move will also support Abu Dhabi’s tourism vision, which aims to make the nation’s capital of the UAE a global destination for culture, leisure, and business tourism.

Karavel will join ADNEC Group’s established tourism portfolio, which includes Tourism365 and its subsidiaries Capital Experience, Capital Travel, Capital Holidays, Etihad Holidays and Capital Drive and drive greater economic impact to Abu Dhabi and the UAE.

Strategic Step

Humaid Matar Al Dhaheri, Managing Director and Group Chief Executive Officer of ADNEC Group, said that the acquisition of Karavel is an important strategic step for ADNEC Group, as the Group deliver on our global expansion strategy and reaffirms its commitment to support the tourism objectives of Abu Dhabi.

“Karavel’s history of success in delivering tours and holidays to customers in France across destinations in Europe and the Caribbean complements ADNEC Group’s ambitions for growth in Europe, where we already have a presence,” Al Dhaheri added.

Alain de Mendonca, CEO of Karavel, said that the opportunities that come with joining ADNEC Group are significant, and they were looking forward to work together to bring Kravel’s shared vision to life, delivering unforgettable holiday experiences and building a tourism brand which successfully bridges Europe and Abu Dhabi.

“We would like to thank Equistone Partners for their support and are very excited for the next stage in our journey,” Mendonca added.

Guillaume Jacqueau, Managing Partner and Country Head for France at Equistone Partners Europe, said that after providing the company with the necessary resources it needed during the COVID-19 pandemic to ensure its developments, the Group was now ready to take a decisive new step in its development.

“Thanks to our ongoing support, Karavel has enjoyed a remarkable turnaround, evolving into a dynamic group with promising international potential. We wish them all the best for the next stage of their journey with ADNEC Group,” Jacqueau added.