Abercrombie & Kent Travel Group has taken a substantial step forward with the acquisition of $500 million in financing from global investment institution Citi.
This strategic move is set to propel the company’s growth trajectory, allowing for the development and expansion of its global network, including new Destination Management Companies, innovative digital infrastructure, and enhanced physical assets worldwide.
Abercrombie & Kent Travel Group (AKTG) has finalised a significant financing agreement, securing $500 million from Citi, a leading global investment bank. This substantial injection of capital is designed to support the company’s ongoing global expansion and enhance its strategic initiatives. The terms of the financing allow for the consolidation of existing financial arrangements, offering improved lending conditions.
Abercrombie & Kent operates 56 offices in 34 countries globally. The expansion is set to bolster its presence significantly, adding to its already extensive network by increasing the number and scope of its services.
These enhancements are expected to provide a seamless user experience, supported by a bespoke Customer Relationship Management (CRM) platform, which will reinforce Abercrombie & Kent’s commitment to innovation.
The financing will facilitate the acquisition and development of these assets in both new and existing markets, supporting the company’s growth and diversification objectives.
Cristina Levis, AKTG Chief Executive, praised the fast-paced negotiation of the deal and acknowledged Citi’s unwavering support for the company’s vision and growth potential.
The company envisions a future where its expanded network and technological advancements play a pivotal role in redefining luxury travel.
With this substantial financing secured, Abercrombie & Kent is well-positioned to enhance its global operations, expand its market presence, and innovate its service offerings.
The strategic collaboration with Citi underscores a mutual commitment to unlocking growth potential and reaching new horizons in the travel industry.
