ITAKA, the largest tourist corporation in Poland and one of the largest in Central and Eastern Europe, has bought Čedok a.s. from Odien Luxembourg SARL which is part of the Odien Group.
ITAKA’s purchase of Čedok is part of the development strategy of the tour operator in Europe. Čedok’s sale is the investment part of Odien’s strategy to exit the tour operator business and redirect investment to hotel infrastructure.
“Čedok is the most recognizable tourist Czech brand, we are number 1 in Poland. Czechs like to travel and we will do everything to offer them an unrivaled product. We are confident that we will achieve financial success in the near future. For ITAKA it is a good investment and a great challenge,” says Mariusz Jańczuk, CEO and co-founder of ITAKA. “We wanted to pass Čedok on into good hands and I believe that ITAKA is the most appropriate strategic investor, who will provide the Čedok brand quality, reliability and further development of the company for the benefit of customers," said Michael Saran, Managing Partner at Odien Group.
Čedok, with its headquarters in Prague, is a leading integrated corporation and one of the most recognizable brands in the Czech Republic. Čedok, founded in 1920, offers a wide range of tourism products and services, serving more than 400,000 customers every year in the sectors of outbound, inbound, domestic, business and VIP tourism as well as coach transport. Čedok has 36 branches, 23 partnership offices and franchise partners and over 700 agents throughout the country.
