Weather
Mixed Weather
High: 20° Low: 16°
Breaking News

The President of the Republic of Albania and the Albanian royal couple have paid an official visit to the Principality of Monaco, on the invitation of HSH Prince Albert II

Abercrombie & Kent boosts its prime position in luxury travel market

Abercrombie & Kent boosts its prime position in luxury travel market

By Cassandra Tanti - February 13, 2019

Two of the world’s leading visionaries in luxury travel have come together to further develop Abercrombie & Kent as the premier brand in luxury and experiential travel.

It was announced this week that Geoffrey J.W. Kent, Founder, Chairman and CEO of luxury travel company Abercrombie & Kent, has formed a strategic partnership with Manfredi Lefebvre d’Ovidio, Chairman of Heritage group, to jointly acquire 100% of the Abercrombie & Kent Group of Companies S.A. (Abercrombie & Kent).

Geoffrey Kent is a true pioneer and visionary in the travel industry. He created the first luxury tented photographic safaris in 1962 in Kenya and has built A&K into the world’s leading luxury and adventure travel company.

“I am very excited to be working with Manfredi,” said Kent. “I cannot think of a better or more experienced partner for the next phase of A&K’s growth.”

Manfredi Lefebvre built Silversea Cruises, created by his father in 1994 with the purchase of two ships, Silver Cloud and Silver Wind, into the leading luxury and expedition cruise line. Recently Royal Caribbean Group (RCL) acquired a 66% stake in Silversea Cruises. A&K is a separate and unique investment by Heritage group, led by Manfredi Lefebvre, and does not involve Silversea.

Abercrombie & Kent plane

Since their humble beginnings, both companies have grown to become the dominant players in their respective fields, offering a discerning clientele the ultimate in luxury travel.

Geoffrey Kent and Manfredi Lefebvre have known each other for more than 20 years and have also been business partners, acquiring the MV Explorer in 1992.

“Abercrombie & Kent is the finest luxury travel company in the world,” said Lefebvre d’Ovidio, “and I am honored to be able to partner with Geoffrey Kent to help this remarkable company continue its record growth.”

“Both Geoffrey and I are based in Monaco, and A&K will be headquartered in the Principality,” he added.

Heritage group will own 85% of Abercrombie & Kent and Geoffrey Kent 15%. Geoffrey Kent will continue to be Chairman and CEO of the operating company, while Manfredi Lefebvre d’Ovidio will become Chairman of Abercrombie & Kent Holding.

The closing is expected to be completed later in the year, subject to customary closing conditions and regulatory approvals.

Barclays Bank Plc served as financial advisor to Heritage group.

shares
SHARE
Previous articleMidfielder ​Tielemans enjoys Leicester City debut
Next articleAbercrombie & Kent boosts its prime position in luxury travel market

daily

October 15, 2019 | Business & Finance

Technology investment needed to secure art market

Cassandra Tanti

Investment in art and cultural infrastructure hit €8 billion globally over the past three years, while technology and social impact investing are set to shape the art and finance market moving ahead. These are some of the latest findings of a Deloitte Art and Finance Report, unveiled on Monday in Monaco. The trend of including […]

0
Staff Writer

With the fourth quarter of 2019 finally underway, markets await third-quarter (Q3) gross domestic product (GDP) readings to assess the resilience of the global economy, which significantly slowed in the second quarter. The first major country to report GDP is China, which is expected to slow further amid ongoing trade tensions. Although China-US trade negotiations […]

0
October 10, 2019 | Business & Finance

Cybersecurity experts meet in Monaco

Cassandra Tanti

An estimated 3,000 experts in the world of cybersecurity have come together at the Grimaldi Forum for the 19th edition of the Assises de la Sécurité (Security Inquest), and Monaco has laid out its mission to be at the cutting edge of the industry. Minister of the Interior Patrice Cellario opened the conference yesterday morning, […]

0
Staff Writer

Persistent trade tensions and rising geopolitical risks are taking their toll on the global economy. Indeed, Germany appears close to recession. But this is due to its high exposure to manufacturing, which has been the main victim of the ongoing trade dispute. Services and households continue to be resilient and should prevent a global recession. […]

0