Travel Services International Inc., Delray Beach, FL, dba The Travel Co., will acquire AHI International Corp., Rosemont, IL, in a cash and stock deal totaling $25.6 million. The acquisition is expected to close within 30 days, subject to customary closing conditions.
Founded by Richard and Arlene Small in 1962 as Alumni Holidays, AHI direct markets packaged European vacations to members of over 200 university and college alumni associations throughout North America. AHI’s tours typically combine air, hotel and European river cruises in packages ranging in length from seven to 15 days. AHI also provides alumni tour packages to college bowl games such as the Rose Bowl. Gross sales in 1998 were about $61 million.
The Small family will continue to manage the business of AHI as a wholly owned subsidiary of The Travel Co.
AHI “possesses a great deal of expertise in direct marketing, mailing over 16 million brochures annually, which should benefit our other direct-to-consumer business units,” Joseph Vittoria, chairman and CEO of The Travel Co., said in a statement.
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