Flight Centre Travel Group has announced it has acquired 100 per cent ownership of Canadian travel agency Les Voyages Laurier du Vallon (LDV).
After acquiring a 75 per cent interest of LDV in August 2017, Flight Centre today revealed to shareholders that it has formally acquired the remaining 25 per cent in the Quebec-based business, which specialises in premium leisure and corporate travel.
Flight Centre managing director Graham “Skroo” Turner said LDV had become an important part of the company’s growth in the Americas over the last two years.
“LDV has proven to be a valuable addition to our network in the Americas and we are pleased to take 100 per cent ownership of the business,” he said.
“In addition to delivering solid earnings growth over the past two years, its corporate travel presence has enhanced our already strong customer offering across Canada and throughout North America in general.
“In leisure travel, LDV’s premium offering, which is similar to the highly successful Travel Associates model we use in some other countries, has complemented the Flight Centre branded offering in Canada and allowed us to target a broader customer base in this fairly large market.”
The terms of the acquisition have not been disclosed.
Flight Centre’s takeover of LDV follows its move to merge two of its recently-acquired DMCs and its full acquisition of European corporate travel business 3Mundi last month.