MONTREAL, Jan. 26, 2012 /CNW Telbec/ - Transat A.T. Inc., one of the largest integrated tourism companies in the world and Canada's holiday travel leader, announces the signing of an agreement for the acquisition of the assets of tour operator Vacances Tours Mont-Royal, which operates in Quebec under the TMR brand.
"Transat, which already sells 180,000 seats a year to Vacances Tours Mont-Royal, is acquiring a longstanding partner and continuing the implementation of its vertical integration strategy," said Transat A.T. Inc. President and Chief Executive Officer Jean-Marc Eustache.
Founded in 1969, Vacances Tours Mont-Royal is a tour operator specializing in the sale of sun packages to destinations including Cuba, Dominican Republic and Mexico. The company has 80 employees based in Montreal and nearly 50 at its destinations.
Anna Malito, Vice-President, Strategy & Development — Product, at Transat, will serve as President and General Manager of Vacances Tours Mont-Royal, which will continue to operate as a distinct entity, with its own trademark and existing hotel partners, and will retain the strong team of employees that has contributed to the company's success for nearly 40 years.
The acquisition takes effect on February 1, 2012. Details of the transaction are confidential.
Transat A.T. Inc. is an integrated international tour operator with more than 60 destination countries and that distributes products in over 50 countries. A holiday travel specialist, Transat operates mainly in Canada and Europe, as well as in the Caribbean, Mexico and the Mediterranean Basin. Montreal-based Transat is also active in air transportation, accommodation, destination services and distribution. (TSX: TRZ.B, TRZ.A)
For further information: