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September 17, 2019 6:01 pm | FILED UNDER: business

Karel Komarek Sells Off CK Fischer

By William Malcolm Czech Billionaire Karel Komarek

German Rewe Group, the owner of Exim Tours, has acquired CK Fischer from Karel Komarek’s KKCG. Company representatives refused to comment on the sale. The merger has yet to be approved by the office for the Protection of Competition (ÚOHS).

 

The Antimonopoly office said they had not received a proposal to authorize the merger of REWE and Fischer.

 

Both Fischer and Exim Tours have annual sales in the billions of crowns. Both travel agencies are among the largest in the Czech Republic. After merging they will control over 30% of sales.

 

Rewe plans to keep both brands after closing the deal. Exim Tours sold tours in the Czech Republic for almost six billion crowns last year and its profit before tax reached 288 million. According to the latest available data for 2017, the Fischer travel group had revenues of CZK 5.15 billion and CZK 165 million profit. Among the major travel agencies in the Czech Republic are also Čedok or Blue Style, which in recent years had revenues of about two to three billion crowns.

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