WHY IT RATES: Two major players in the travel industry have come together in a blockbuster deal.-Donald Wood, Breaking News Senior Writer.
BCD Travel announced it has acquired Milwaukee, Wisconsin-based Adelman Travel Group. Adelman is one of the largest full-service travel management companies in North America.
"We're very proud to bring a prominent TMC like Adelman into the BCD Travel family," said Craig Bailey, BCD Travel's Americas president. "Our financial strength affords us the opportunity to grow our company with moves like this one that benefit our clients, employees, partners and affiliates. It fits perfectly with our strategy of growing organically through investments in products and services and through acquisitions of successful companies that share our company values and culture."
Founded in 1985, the privately held Adelman employs more than 300 with total combined sales of $675 million. The company's diverse portfolio includes clients from the financial services, technology, manufacturing and retail sectors. The agency specializes in corporate travel and expense management, global consolidations, vacations, loyalty rewards travel, meeting and incentive planning, and affinity groups and tours travel.
In 2017, Adelman joined the BCD Travel Affiliates, a network of 30 corporate travel agencies with more than 450 locations representing more than $5 billion in annual air spend.
"As a member of the BCD Travel Affiliates program, our customers have reaped some of the global benefits of our partnership with BCD Travel. This acquisition helps Adelman secure a bright future for our loyal customers, dedicated and committed employees and shareholders," said Andy McGraw, CEO of Adelman Travel Group.
The Adelman purchase is the latest in a series of investments BCD has made in recent years to grow business, extend its global network and help businesses leverage the latest innovations for their travel programs. Other significant BCD investments include acquisitions of BCD operations in Brazil, China, Hong Kong, Colombia, Dubai, Japan, Poland, Acendas Travel and World Travel Services in the U.S., Nordic travel agency Ticket Biz, global Grass Roots Meetings & Events, U.K.-based international events agency Zibrant, U.S.-based Universal Meetings Management, Inc. and marketing logistics agency Plan 365 Life Sciences and mobile technology company GetGoing.
In early July, BCD announced its acquisition of a majority stake in Hitachi Travel Bureau (HTB), the company's partner in Japan. A partner since 2011, HTB is one of Japan's largest corporate travel companies, with 280 employees and annual sales of US$330 million. The move follows BCD's 2016 acquisition of majority stakes in China and Hong Kong.
Adelman will continue operating under their brand as a wholly owned business unit of BCD Travel.
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