Mississauga-Ont.-based Red Label Holdings Inc., parent company of TravelBrands and Redtag.ca, has reached an agreement to 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,” said 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.”
Dean Moore, president and CEO of itravel2000, commented, “itravel2000 has been at the forefront of the Canadian online travel agency space for over two 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.”
The acquisition is subject to regulatory approvals and other closing conditions.
Pictured (l-r) are Frank, Joe and Enzo DeMarinis.