MISSISSAUGA, ON, CANADA – Red Label Vacations Inc. which operates redtag.ca, itravel2000.com,The Travel Experts and TravelBrands, is pleased to announce today it has signed an agreement to beacquired by a subsidiary of H.I.S. Group, a leading global travel services company based in Japan.Under the terms of the agreement, Red Label Vacations will continue to operate as an independent,wholly-owned subsidiary of H.I.S. Completion of the transaction is subject to customary closingconditions, including approval by the Canadian Competition Bureau. Subject to the satisfaction of allnecessary conditions, the transaction is expected to be completed in the first calendar quarter of 2019.
“It is a very exciting day for our company as this marks the launch of our next phase of growth,” said co-owners Frank DeMarinis, Joe DeMarinis, and Enzo DeMarinis, “H.I.S. is committed to supporting ourcontinued growth at home in Canada as well as internationally. We expect that H.I.S.’s support willenable us to enhance our service offerings on both the wholesale and retail fronts and accelerate ourgrowth objectives. We look forward to a very bright future.”
Hideo Hatano, Executive Officer, Global Business Development Division, H.I.S. Co. Ltd., added: “Theacquisition of Red Label Vacations is in keeping with our ambitious expansion plan in North Americaand we look forward to building upon Red Label Vacation’s branding and experience in the Canadianmarket space to further service the North American market.” BMO Capital Markets acted as exclusive financial advisor to Red Label Vacations Inc. with Osler,Hoskin & Harcourt LLP acting as legal counsel.
About Red Label Vacations Inc.
Red Label Vacations Inc. was founded by brothers Enzo, Frank and Joe DeMarinis in 2004. Thecompany has two operating segments split into Wholesale and Retail. The retail travel platform offers awide variety of travel products direct-to-consumers through a number of channels, including two leadingCanadian online travel agencies (“OTAs”), redtag.ca and itravel2000.com. The wholesale travelbusiness sells full range of travel products (e.g., air, hotel, car rental, cruise and specialty) to retailtravel agencies throughout Canada.
About H.I.S. Co. Ltd.
H.I.S. is a publicly traded multi-national travel company based in Tokyo, Japan with 282 branches inJapan, 275 branches in 158 cities internationally, nearly 17,000 employees worldwide and over ¥600billion in annual sales. H.I.S. has developed a significant global footprint and has evolved from Japan’sfirst travel operator dedicated to overseas trips to offering services in a range of sectors beyond travel,including the operation of theme parks, hotels, and robotics businesses. H.I.S. owns and operatesHenn-na Hotel in Sasebo, Nagasaki Prefecture of Japan, which was recognized by Guinness WorldRecords as “the first robot-staffed hotel” in the world, and H.I.S. now has 6 robot hotels in addition to 25other hotels. H.I.S. separately owns Jonview, a leading travel package company in Canada purchasedfrom Air Transat, Merit Travel, a leading corporate and retail travel provider, and Miki Travel, a globalB2B tour operator and wholesaler with branch offices in over 30 cities around the world.
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