Weinhold Legal has advised the Polish group ITAKA, the largest travel agency active on the Polish market, on its acquisition of CEDOK, the oldest Czech travel agency, active on the Czech market since 1920. The US-Turkish company Odien was reported to be the seller of CEDOK on the deal. The value of the transaction was not disclosed.
“Cedok is the most recognizable tourist Czech brand, and we are number 1 in Poland,” said Mariusz Janczuk, President and Co-Founder of Itaka. "Czechs like to travel and we will do everything to offer them unrivaled product. We are confident that we will achieve financial success in the near future. For Itaka this is a good investment and a great challenge."
“We are very pleased to have assisted in the transaction involving one of the famous Czech travel agencies,” said Weinhold Legal Partner Ondrej Havranek, who led the firm’s team on the deal. “The structuring of the transaction to ensure the further development of the travel agency was a valuable experience for us.”