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Share TMC acquisitions, mergers and failures have been a feature of the Covid pandemic that has devastated the business travel industry, but last week’s deals took industry consolidation to a new level. The first saw American Express Global Business Travel (GBT), a legacy TMC well versed in scaling up through acquisition, announce a binding offer to bring Expedia-owned Egencia into its stable. GBT has already acquired New York-based Ovation Travel Group this year and, most notably, bought HRG in 2018 in a deal that saw it become the UK’s largest TMC. Also established as the world’s largest TMC, the addition of Egencia – which is thought to be the world’s fourth or fifth largest TMC – gives GBT an incredibly dominant position. ....
FROSCH Acquires New Yorkâs Iconic Valerie Wilson Travel The VWT team at their New York office opening in 2018. New York’s Valerie Wilson Travel is being acquired by Frosch International Travel, joining two of the travel industry’s most storied families together under one umbrella. Valerie Wilson Travel will continue to operate as an independent brand, with the agency’s executives remaining in their positions and joining FROSCH’s executive and leadership team Valerie Ann Wilson will remain as CEO; Jennifer Wilson-Buttigieg and Kimberly Wilson Wetty will remain as co-presidents; Brian Buttigieg will be appointed VWT’s COO effective immediately and will join FROSCH as general counsel’ and Patrick Fragale, executive vice president for VWT, will expand his responsibilities. ....
| Two family businesses: Left, Richard, Lara and Bryan Leibman of Frosch International; right, Jennifer Wilson-Buttigieg, Valerie Wilson, Kimberly Wilson Wetty and Brian Buttigeig of Valerie Wilson Travel. Frosch International Travel has acquired Valerie Wilson Travel, a move that brings together two New York City-based agencies run by two generations of families that built their respective brands into multimillion-dollar travel businesses. Frosch was No. 14 on Travel Weekly s 2020 Power List, with $2.4 billion in 2019 sales, and Valerie Wilson Travel was No. 36 with $325 million. Frosch was founded in 1972; chairman Richard Leibman acquired the agency from the Frosch family in 1977. His children Bryan Leibman and Lara Leibman later joined Frosch; Bryan is now president and CEO, and Lara is executive vice president. ....