Egyptian travel company Sakkara Group International (SGI) has acquired Central Holidays, a U.S. tour operator specializing in Italy and the Mediterranean, for an undisclosed price.
Central Holidays will retain its name and operate as a
The tour operator was founded in 1972 by brothers Joe and
Fred Berardo. Joe Berardo will join the board of directors, and Fred Berardo
will remain in his role as president and will focus on business development.
Gianni Miradoli will serve as acting CEO during the
transition, reporting to SGI’s board of directors and handling the day-to-day
operations of the company. Miradoli has worked at Central Holidays for many
SGI, a global company established in 1972, also owns tour
operators STI Travel USA, STI UK, STI India and STI Voyages in France.
STI Travel USA, headed by Gary Greis, will relocate from
Hackensack, N.J., to Central Holidays' headquarters in Moonachie, N.J.
“We need a strong financial company that can place us on
the map with a stronger presence with new ideas and a new push,” said Miradoli.
“The Sakarra Group is a very strong group financially.”
He added, “I strongly believe that the brothers Berardo
made the correct move if they decide to really ‘retire’ from this business.
They [sold] to a very good company.”
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