PADI Worldwide announces important acquisition of PADI Europe

PADI Worldwide announces important acquisition of PADI Europe

Hettlingen, Switzerland/Rancho Santa Margarita, CA USA

The Professional Association of Diving Instructors (PADI) board of directors and PADI Europe are proud to announce an agreement to transfer the status and ownership of PADI Europe from a licensee to a wholly owned subsidiary of PADI Worldwide by the end of January 2009.

With this exciting acquisition, PADI Members who are currently serviced by the PADI Europe office can expect to receive high levels of European-centric professional services through the exceptional staff at PADI Europe.

PADI members in Europe will now be backed by the unequalled strength of the PADI Worldwide corporation group currently servicing  over 110,000 dive professionals and more than 6,000 dive retailers and resorts in 175 countries and territories worldwide. “We are very proud of the growth of PADI in Europe over the past 25 years under the direction of Jürg Beeli and Jack Lavanchy and look forward to building on this impressive legacy into the future” said Drew Richardson, President and Chief Operating Officer, of PADI Worldwide.

The new PADI Europe company will benefit from the ability to leverage the combined strengths of the worlds largest diver training, dive resort and dive retailing group and provide increased support and services for members in the region. “This transition is key step towards fueling the growth of the recreational diving market in Europe under the PADI brand” noted Brian Cronin, Chairman and Chief Executive Officer for PADI Worldwide.

PADI Europe staff and executives are currently working closely with PADI Worldwide staff to ensure a smooth and successful transition for PADI Europe in 2009.

ZETRA International AG acted as the exclusive M&A advisor to the shareholders of PADI Europe AG. www.zetra-international.com