With the acquisition of all outstanding shares in the publishing businesses of French travel guide specialist Mondéos, Michelin believes it has “reaffirmed its leadership and strengthened its presence” in the travel guide market. Michelin has not disclosed the price it paid for the shareholding in publisher of the Balado and Mondéos guides.
Michelin views the Mondéos publishing business, which generated €1.6 million in revenue in 2015, as an operation that has established a reputation for supplying quality products to both travel agencies and the general public. It views the acquisition as beneficial to both firms.
“Michelin will be able to take advantage of the knowledge of Mondéos team members who have tested, evaluated and ranked theme parks, workshops and other first-time sporting adventures in its region or during a tourist stay,” comments Claire Dorland Clauzel, member of the Michelin Group’s Executive Committee and managing director of Michelin brand and exterior relations. “These data will be added to the base developed by our publishers and enrich both our print and web content. The insight of Mondéos teams in the area of travel guides that can be personalised is also deserving of praise and the sales and marketing know-how of Michelin teams will help to spread the growth of this business.”
Mondéos will benefit from joining the Michelin group has it gains access to Michelin’s maps and editorial content in the areas of lodging, dining and culture. “Our digital expertise will complete the system and provide major multi-channel, strategic development prospects,” shares Michelin in a statement. “The acquisition is in line with the Michelin Group’s commitment to strengthening its understanding of French tourist uses in order to provide them with the best possible travel experience.”
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