RED LABEL HOLDINGS ACQUIRES ITRAVEL2000

Posted on 07/21/2016 | About Toronto, Ontario

The rumours that have been around for months were confirmed yesterday when Red Label Holdings Inc., parent company of TravelBrands and Redtag.ca, announced that it has reached an agreement to acquire itravel2000.

Joe DeMarinis, vice president of Red Label Holdings, said, “This deal marks a significant milestone for our retail business. itravel2000 has built a trusted brand and loyal client base for over 20 years. With our scale, we have the opportunity to move itravel2000’s business forward even faster.”
“I am pleased to have reached this agreement. We can provide itravel2000 with more options, differentiated products and services created specifically for the Canadian market.”
“itravel2000 has been at the forefront of the Canadian on-line travel agency space for over two decades and the acquisition by Red Label Holdings Inc. creates a platform to ensure one of Canada’s most instantly recognizable brands continues to flourish.” said Dean Moore, president & CEO, itravel2000.
“Enzo, Joe and Frank DeMarinis have a long and distinguished track record in the Canadian retail travel industry and their skills and experience will be a tremendous asset to the business going forward.” Said Moore.
The acquisition is subject to regulatory approvals and other closing conditions.