As reported by Open Jaw in late May, Red Label Holdings Inc., parent company of TravelBrands and Redtag.ca, has announced that it will acquire itravel2000.
“This deal marks a significant milestone for our retail business. itravel2000 has built a trusted brand and loyal client base for over 20 years. With our scale, we have the opportunity to move itravel2000’s business forward even faster.” commented Joe DeMarinis, Vice President of Red Label Holdings.
“I am pleased to have reached this agreement. We can provide itravel2000 with more options, differentiated products and services created specifically for the Canadian market. We look forward to continuing our long-term business relationships with our partners and suppliers, and to serve Canadians with the best value and services in travel,” added DeMarinis.
Itravel2000 President & CEO Dean Moore stated, “itravel2000 has been at the forefront of the Canadian on-line travel agency space for over 2 decades and the acquisition by Red Label Holdings Inc. creates a platform to ensure one of Canada’s most instantly recognizable brands continues to flourish.
“Enzo, Joe and Frank DeMarinis have a long and distinguished track record in the Canadian retail travel industry and their skills and experience will be a tremendous asset to thebusiness going forward.”
The acquisition is subject to regulatory approvals and other closing conditions.
Red Label Holdings Inc. is a multi-channel distribution network comprised of 7 retail brands and 13 wholesale brands, with offices from coast to coast and over 800 employees.