UK > Germany based Dreamlines is set to acquire UK based Cruise 1st
Germany based OTA and tour operator, Dreamlines is set to acquire 100 percent of UK based Cruise 1st in which the value of the transaction has not been disclosed.
Entering the UK cruise market, Dreamlines has acquired one of UK’s leading cruise specialists which has operations in Australia and Singapore. Cruise 1st‘s 180 employees will be joining Dreamlines group making the employee count of Dreamlines group to more than 400 global team members.
Dreamlines is the market leader in Germany, it will now hold market leadership in Australia and Singapore by operating two leading brands, CruiseAway by Dreamlines and Cruise 1st
According to Felix Schneider, Managing Director of Dreamlines:
“Entering the UK, the world’s 3rd biggest cruise market by volume, is an important milestone within our global strategy. We are expanding our role in the market and will strengthen our position as the cruise OTA with the widest global footprint. Cruise 1st enables us to offer our customers even more unique cruise holiday products and will grow our operator business, a key factor for our future success.”
Dreamlines and Cruise 1st will pool their expertise to create unique cruise products and experiences and will also streamline their distribution channels which will enable their supplier to target customers more efficiently.
Dan Townsley, CEO of Cruise 1st also commented the following about the acquisition:
“The synergy between Cruise 1st and Dreamlines was too great to overlook. Combining a hugely successful global OTA with our own proficiency and database of customers in the UK, Australia and Singapore will drive higher sales volumes and margins and deliver huge growth for the business.”
Dreamlines were guided by Dentons to provide legal due diligence, corporate and tax advice while EY provided financial and tax due diligence. Cruise 1st were guided by White Hart Associates which provided financial, tax and regulatory advice while Mundays provided Cruise 1st shareholders on transaction, corporate, and SPA matters.
Founded in 2012, Dreamlines has over 400 employees and is the largest online cruise provider in Europe. Headquartered in Germany, Dreamlines is represented in Switzerland, Austria, France, the Netherlands, Italy, Russia, Brazil, Australia and the USA. Dreamlines also has offices in Nice, Amsterdam, Moscow, São Paulo, Gold Coast and Boca Raton.
About Cruise 1st
Cruise 1st is headquartered in the UK and is a leading cruise retail brand in Australia and Singapore. Cruise 1st has offices in Sydney and Singapore and has been operating as a combined web and call center business since 2000 and opened the UK’s first interactive cruise retail store in the Lowry Shopping Centre, MediaCity UK in January this year