Carlson Wagonlit Travel today announced the purchase of Spanish corporate travel agency Viajes Lepanto, the latest in a string of acquisitions in the United States and Europe.
The travel management company did not disclose financial terms of the deal.
A CWT statement claimed 40-year-old Viajes Lepanto has annual sales of €16 million, 62 percent of which are attributed to business travel, with the remainder generated by meetings and events. The acquisition grows CWT's Spain division by eight locations to total more than 170 offices in the country. Viajes Lepanto general manager Javier Cabello will stay with the organization, CWT said.
Carlson Wagonlit earlier this year acquired Viajes Mapfre, the in-house agency of Mapfre Group, a Spanish insurance company
(BTN, Jan. 25). "The acquisition of Viajes Lepanto, like that of Viajes Mapfre in the first quarter of this year, reflects the importance of strategic acquisitions in our development plan here in Spain and on a global level," said Marino Faccini, CWT executive vice president of Spain, Mediterranean and Latin America, in a prepared statement.
Other CWT purchases in the past 12 months include the United States' Piedmont Travel
(BTN, Aug. 11) and Traveltime Services
(BTN, March 11), as well as Sweden's Ark Travel
(BTN, Dec. 17, 2007).