Key Highlights
- TBO Tek completes $125 million acquisition of Classic Vacations, LLC
- Classic Vacations to operate as an independent brand under CEO Melissa Krueger
- Acquisition strengthens TBO’s position in the U.S. luxury travel market
- Classic Vacations brings a network of 10,000+ travel advisors and five decades of industry expertise
- TBO expands its global travel distribution platform and accelerates growth strategy
TBO Tek Limited (BSE: 544174; NSE: TBOTEK), a global travel distribution platform headquartered in Gurugram, India, has announced the successful completion of its acquisition of Classic Vacations, LLC, a U.S.-based luxury travel company.
The acquisition, valued at $125 million including closing adjustments, was finalized by TBO LLC, a wholly owned step-down subsidiary of TBO Tek. Classic Vacations was previously owned by Phoenix-based investment firm The Najafi Companies.
Following the transaction, Classic Vacations will operate as a material step-down subsidiary of TBO Tek Limited. The company will continue to function as an independent brand under the leadership of CEO Melissa Krueger, maintaining its five-decade legacy of strong advisor and supplier relationships in the U.S. luxury travel segment.
With support from TBO’s technology platform, extensive global inventory, and large distribution network, Classic Vacations is expected to accelerate its growth, expand offerings, and enhance value for its network of more than 10,000 travel advisors.
Founded in 2006, TBO Tek operates as a global travel distribution platform, connecting over 159,000 travel buyers with one million suppliers across more than 100 countries. The company leverages technology to simplify global travel bookings across flights, hotels, holidays, and ancillary services. TBO Tek operates its flagship platform through www.tbo.com, providing solutions to travel agents, tour operators, and corporates worldwide