TravelBrands Parent Co. Buys itravel2000

Open Jaw

As reported by Open Jaw in late May, Red Label Holdings Inc., parent company of TravelBrands and, 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 the business 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.

Peter - October 9, 2016 @ 09:10
Less competition, means higher prices, DUH

Ted - July 20, 2016 @ 22:07
Ralph.... if it was in such shambles then why would they have purchased it in the first place. And trust me it is only worse since they have taken over. I speak first hand. And with regards to the staff that have lost their jobs as a result, the companys problems were not related to general staff. The decisions are made my the executives which are all still there! Nothing has changed amd the situation remains the same. Time will tell. 12 months max and we will be reading about them in the press once again.

Gianni Bragagnolo - July 20, 2016 @ 21:07
Enzo, Joe, Frank,
CONGRATULATION with capital letters !!!
I'm sure ITravel 2000 will grow faster than ever and it will offer better great products at better prices to the Canadian Puublic!
Well done and best wishes

WENDY ELIZABETH CHAPUT - July 20, 2016 @ 15:07
Wow! that will make winter sales flourish!

Ralph - July 20, 2016 @ 15:07
Ted do you not recall Thomas Cook was in shambles before it sold to redtag. Those good people you mention, might be good people but they didn't help the cause. Travelbrands is in much better shape today than it was 5 years ago!

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