Posted on December 20th, 2018
Helloworld Travel Limited (ASX: HLO) today announced that it has acquired the business of Show Group Enterprises, a leading travel management specialist and freight logistics organisation servicing the entertainment, film, arts, fashion, corporate and sporting industries.
The Show Group business and assets have been acquired by HLO from the Avis Budget Group Inc. with the transaction executed and completed earlier this morning.
Andrew Burnes, CEO and Managing Director of Helloworld Travel Limited said “We are delighted with the addition of the Show Group business to Helloworld Travel Limited. The transaction will allow HLO to expand in this specialised travel and logistics segment and complements our existing corporate business with additional expertise knowledge and capability.”
HLO’s rationale for the acquisition.
Financial details of the acquisition
Mr. Burnes went on to say, “With over 30 years’ experience, Show Group is a highly respected leading business in its field and will continue to provide outstanding services to their many clients across the events, arts, television, movie, sport and corporate sectors in Australia and New Zealand.”
Nick Sutherland, Group General Manager Corporate for Helloworld Travel Limited said “We are delighted to welcome this iconic, specialist travel business to the growing corporate operations of QBT and APX in Australia and New Zealand and we look forward to continuing to provide outstanding service to Show Group’s many clients around the world.”