Amex, Carlson Wagonlit Make M&A Moves In Spain

Carlson Wagonlit Travel late yesterday announced it has acquired the in-house agency of Mapfre Group, a Spanish insurance company. In a separate Spanish travel management company deal, American Express Business Travel this week entered into a joint venture with Barceló Business Travel.

The CWT buy of Viajes Mapfre, which has 30 offices in Spain and Latin America, includes the company's business travel, meetings and events, and leisure travel management services in Spain. The deal also has an option for CWT to acquire the Madrid-based company's travel operations in Latin America. According to CWT, the Viajes Mapfre's total annual sales in Spain are €60 million, more than 60 percent of which are derived from outside of Mapfre. The agency's employees will be integrated into CWT.

"Purchasing Viajes Mapfre is an extension of the targeted acquisition strategy being pursued by Carlson Wagonlit Travel on a local and international basis," said Marino Faccini, CWT executive vice president of Spain, Mediterranean and Latin America, in a prepared statement. "Thanks to the significant experience CWT has had integrating acquisitions, we are confident the integration of Viajes Mapfre will be successful in the eyes of employees and clients alike."

Meanwhile, American Express bolstered its presence in the Spanish market in a deal with Barceló, which handles business travel management operations for more than 400 corporations. The agreement, signed in December, went into effect earlier this month. According to Amex, the joint venture will integrate a workforce of more than 450 employees in Spain.