MONTREAL, Oct. 27, 2017 /CNW Telbec/ - Transat A.T. Inc. has signed an agreement for the sale of its wholly owned business unit Jonview Canada, the country's leading incoming tour operator, for $44 million Cdn to Japanese multinational H.I.S. Co. Ltd., which specializes in travel distribution. The transaction is subject to the approval of the Competition Bureau of Canada and to other usual conditions. It is expected to close on or around November 30, 2017. The price will be adjusted at closing.
"With this transaction, Transat has carried out the implementation of its strategic refocusing around its leisure travel operations in Canada and development of its hotel division," said Jean-Marc Eustache, President and Chief Executive Officer, Transat. "The sale of our Canadian incoming tour operator business will accelerate development of those key sectors."
Hideo Hatano, Executive Officer, Global Business Development Division, H.I.S. Co. Ltd., added: "The acquisition of Jonview Canada is in keeping with our ambitious expansion plan in North America, and bodes well for the development of this leading incoming tour operator, which has become a reference for Canada as a travel destination."
Jonview Canada markets its tourism product offering, which encompasses escorted tours, all-inclusive travel, sport and adventure packages, and personalized group tours, to more than 50 countries via third-party travel agencies and tour operators. The Canadian incoming tour specialist employs 180 people in Toronto and Montreal, along with 120 seasonal guides, and brings some 300,000 international visitors to Canada annually.
About Transat
Transat A.T. Inc. is a leading integrated international tourism company specializing in holiday travel and active in air transportation, accommodation, travel packaging and distribution. It operates mainly in Canada, Europe, Mexico and the Caribbean, with some 25 destination countries, and distributes products in over 50 countries. Based in Montreal, the company has 5,000 employees. Transat is firmly committed to sustainable tourism development, as reflected in its multiple corporate responsibility initiatives over the past 10 years, and was awarded Travelife Partner status in 2016. The vacation travel companion par excellence, Transat celebrates its 30th anniversary in 2017 (TSX: TRZ).
Recent distinctions and awards
Named world's second-best leisure airline at the Skytrax World Airline Awards (2013–2017) and best in North America in the same category (2012-2017)
Placed second among airlines on Forbes magazine's 2017 ranking of Canada's Best Employers
Named one of the Best Corporate Citizens in Canada by the research firm Corporate Knights (2014–2017; 16th in 2017)
Named the number one carrier in North America for energy efficiency by Atmosfair (2011–2016)
Ranked among the Top 10 call centres in North America by BenchmarkPortal (2012 and 2015)
Voted Best Leisure/Charter Airline (2008–2017) and Best Tour Operator (2014–2017), at the Agent's Choice Awards presented by Baxter Travel Media
Voted Best Airline (2013, 2014, 2015 and 2017) and Best Tour Operator (2013, 2015, 2016 and 2017), at the Trophées Uni-Vers awards organized by the Association des Agents de Voyages du Québec
About H.I.S. Co. Ltd.
H.I.S. Co. Ltd. has expanded from an agent for the sale of international airline tickets in 1980, to a comprehensive travel company providing a wide range of products from overseas leisure and business trips to group tours and the sale of original package tours. Today, H.I.S. has grown to be a worldwide travel giant with 296 points of sale in Japan and 272 outlets in 68 countries, 155 cities around the world, along with 107 subsidiaries and 14 associated companies, making it the travel agent with the largest global network. Within its group, H.I.S. also operates Huis Ten Bosch, a theme park the size of Monaco. Various hotel brands are operated inside the park including the Henn na Hotel Chain, the world's first robot-staffed hotel according to the Guinness Book of World Records. Spreading its business to various fields, H.I.S. Group also aims to contribute to local communities, protect cultural assets, protect the environment, and develop sustainable technology through its business activities.
SOURCE Transat A.T. Inc.
