Carlson Travel Group's Associate & Leisure Company finalizes T.A.I. acquisition.MINNEAPOLIS--(BUSINESS WIRE)--May 28, 1997-- Becomes largest travel agency franchisor in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. Carlson Travel Group's Associate & Leisure Travel company has finalized See finalization. the purchase of International Franchise Group, the parent company of Travel Agents International (T.A.I.). Officials from both companies signed acquisition documents on May 23 in St. Petersburg, Fla., following a T.A.I. stockholders meeting May 20 in which the stockholders overwhelmingly approved the acquisition. The signing was completed just over a month from when Carlson first announced its plans to acquire T.A.I. The acquisition price was not disclosed. With the T.A.I. acquisition, Carlson's Associate & Leisure company becomes the largest travel agency franchisor in North America with nearly 1,300 locations. (St. Petersburg-based T.A.I., with 1996 sales of $600 million, has more than 300 franchised travel agencies and 15 franchised travel academies in the U.S. and Canada). On hand in St. Petersburg to sign the acquisition documents were John Dignan, vice president, Finance and Administration/CFO for Carlson Travel Group's Associate & Leisure company, and Roger Block, former T.A.I. president who will now become vice president, Sales and Marketing for Carlson's Associate & Leisure operation. The T.A.I. acquisition allows Carlson to increase its marketshare in the U.S., as well as venture into franchising "start-up Start-up The earliest stage of a new business venture. " travel agencies and franchising travel academies. (Carlson currently offers only conversion franchises and owns seven Carlson Travel Academies.) Note to Editors: Carlson Travel Group's Associate & Leisure Travel company is based in Minneapolis and is a wholly-owned division of Carlson Companies Carlson Companies (sometimes referred to as Carlson) is a privately held international corporation in the marketing, service, travel, and hospitality industries. Headquartered in Minneapolis, Minnesota, in the United States, as of 2005 Carlson Companies owned 5,300 travel , Inc. It has more than 1,000 Carlson Wagonlit Carlson Travel Network Carlson Travel Network can trace its origin back to a travel agency that was founded by Ward Forster in the United States in 1888 and named Ask Mr. Foster. Travel franchise locations in North America and in 1997 was named the top travel business franchise by Entrepreneur magazine Entrepreneur Magazine is a publication that carries news stories about entrepreneurialism, small business management, and business opportunities. This magazine is published monthly, with a total of 12 issues annually. (No special extra issues are published. . Carlson brands include: Carlson Wagonlit Travel Associates; Carlson Travel Academies; A.T. Mays (U.K.); Neiman Marcus Neiman Marcus U.S. department-store chain. It was founded in Dallas, Texas, in 1907 by Herbert Marcus, his sister Carrie Marcus Neiman, and her husband, A.L. Neiman. Travel Services; and Carlson Destination Marketing Services. It is backed by a network of $13.3 billion in annual sales with more than 4,100 locations in more than 135 countries. CONTACT: Barbara Hemberger 612/449-2267 |
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