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Central Holidays Acquired By Sakkara Group InternationalJune 7, 2012 By: Newswire Travel Agent
Central Holidays reports its acquisition by the Sakkara Group International (SGI). SGI acquired a 100 percent ownership interest in the company and its affiliated businesses. SGI is a global travel organization that owns and operates a portfolio of successful tourism companies, hotels, and cruise businesses.
This key acquisition is the next step in the planned expansion of SGI's portfolio of tour operator companies, which also includes STI Travel USA, STI UK, STI India, and STI Voyages based in France.
"The acquisition of Central Holidays and its family of brands is perfectly aligned with SGI's goals for growth," said Baher Ghabbour, chairman of SGI. "Central Holidays is an award-winning organization and a perfect fit for our travel and tourism-related product range. It is our aim to build on the company's strong destination expertise, commitment to the travel agent community, and high levels of quality and service - while also making new investments strategically."
"Our team has grown Central Holidays to its status as a leader in the industry with care and attention to product detail and service," said Gianni Miradoli, acting CEO of Central Holidays and its affiliated businesses. "As we enter this next phase of expansion, it's a very exciting time at Central Holidays. We are thrilled to join with such successful leaders in global travel and tourism to help drive our ongoing growth in the tour sector. Their experience in positively developing travel companies gives Central Holidays new insight and their financial investment gives us a wider and longer runway for attaining the growth we seek."
Central Holidays will continue to operate as a standalone entity, managed by a Board of Directors, and will retain its name. Joe Berardo will join the Board of Directors as an honorary member. Fred Berardo will remain in his role as President and will now focus solely on new business development. Gianni Miradoli will serve in the role of Acting CEO reporting to SGI’s Board of Directors and will handle day-to-day operations of the company.
STI Travel USA, headed by Gary Greis, Board Member of SGI, will relocate to the Central Holidays global headquarters location in Moonachie, New Jersey.
Established in 1972, Sakkara Group International (SGI) owns and operates a worldwide portfolio of tour operators, hotels, and cruise companies.