Parties
Company
Apollo Global Management Inc.
Company
The Travel Corporation
On July 16, 2024, Apollo Global Management (NYSE: APO) announced that funds managed by Apollo (“Apollo Funds”) entered into a definitive agreement to acquire The Travel Corporation (TTC), a privately-owned global travel leader for over 104 years. The deal includes 18 major brands such as Trafalgar, Uniworld Boutique River Cruises, Contiki, and Insight Vacations, while excluding The Red Carnation Hotel Collection.
Both companies operate in Canada. TTC’s Canadian presence includes Toronto offices and brands like Trafalgar and Contiki. Apollo’s Canadian investments include its 2021 acquisition of Ontario-based Great Canadian Gaming Corporation.
McCarthy Tétrault acted as Canadian counsel to Apollo, with a multidisciplinary team led by Matthew Cumming. Sidley Austin LLP also advised Apollo. Skadden, Arps, Slate, Meagher & Flom LLP represented TTC, and Zaoui & Co served as TTC’s financial advisor.
The transaction aligns with TTC’s succession plan, with its Chairman expressing confidence in Apollo’s leadership. The deal closed on October 31, 2024. Financial terms were not disclosed.
Deal Type
Merger & AcquisitionIndustry
OtherTransaction
Undisclosed/ConfidentialDeal Status
ClosedClosing Date
31 October 2024