Japan’s H.I.S. Co. Acquires 89.9% Of Merit Travel Group
Merit Travel Group has announced an “investment agreement” with Japanese global travel services company H.I.S. Co. Ltd.
According to a Reuters report, the deal will see H.I.S. Co. acquire 89.9% of Merit Travel. Under the agreement, H.I.S – Merit Travel will leverage the Merit brand, particularly in North America, to grow its travel business through strategic acquisitions around the world, under the leadership of Merit founder Michael Merrithew.
"Merit has been a leader in the Canadian travel industry for more than 25 years, and in this time has developed a strong portfolio of brands focused on the wholesale and retail specialty leisure travel market, corporate travel management and loyalty program travel services," said Merrithew. "The agreement with H.I.S. Travel provides our company with the resources required to compete and win in the global travel business, while extending the Merit Travel brand around the world."
According to a news release, the Merit Travel Group, led by founders Merrithew and Louise de Grandpré, will continue to operate the business while benefitting from the global scale and scope offered by the H.I.S. partnership. H.I.S. operates more than 300 retail locations in Japan and 200 branches in 130 cities around the world.
Merit also says the H.I.S. agreement provides “a unique global platform for the continued growth of Merit's Loyalty, Corporate and Leisure travel businesses.”