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U.S.-based travel management company Direct Travel, No. 15 on Travel Weekly’s 2016 Power List, and Canada’s Vision Travel agreed to merge.
“This move is the first step towards a shared strategy to build a global company,” according to a joint announcement.
Vision bills itself as “the largest independent travel management company in Canada” and operates in the corporate, meetings, leisure and loyalty travel segments. It will continue to operate under the Vision Travel brand in Canada.
The deal should be finalized by the end of the month. When combined, the companies will count 2,000 employees across North America, handle more than $3 billion in annual sales and operate offices in more than 60 locations. Prior to this agreement, Direct Travel handled around $2 billion in annual sales volume.
Since 2011, Direct Travel has completed more than 20 acquisitions on its path to consolidate midmarket agencies in the U.S. Last year alone, it acquired Atlanta-based Georgia International Travel, Cleveland-based Traveline Travel Services, Massachusetts-based Colpitts World Travel and Virginia-based MacNair Travel.
While Direct Travel’s acquisitions have brought it a couple of non-U.S. agency locations, Vision represents its largest deal outside the U.S.
Vision announced its executive team would remain in place and work “in tandem with Direct Travel’s executive team,” which also will be maintained under the arrangement.
Sоurсе: travelweekly.co
