CVC Corp, a listed company in Brazil has acquired Santa Fe Investment B.V., the Dutch holding company of the digital travel company Almundo, who have operations in Argentina, Colombia, Mexico and Brazil, including 70 travel stores in Argentina.
CVC Corp has the largest portfolio of travel products and solutions in Latin America and have been present in the Brazilian market for 45 years. CVC also has the largest distribution network of tourism products and services in Brazil, with more than 1,200 franchises and more than 6,500 authorised multi-brand travel agencies throughout the national territory.
As a result of the USD77 million cash transaction, CVC has doubled its market share in Argentina, making it a leading player.
Amongst the sellers are senior managers who will remain with the group post-completion.