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Despegar to Acquire Viajes Falabella to Enhance Market Position in Travel Services
Wednesday 17 April 2019

17 April 2019 - Argentina-based online travel company Despegar.com, Corp. (NYSE: DESP) has entered into an agreement with Chile-based financial services provider Falabella Financiero to acquire 100% ownership of Viajes Fabella's operations, the company said.

The companies have established a 10-year commercial agreement in Chile, Colombia, Peru and Argentina, the company said.

The acquisition of Viajes Falabella in Chile, Colombia, Peru and Argentina, together with the license to use the Viajes Falabella brand name has been agreed for a total consideration of USD 27m. The transaction assumes the transfer of these operations free of any financial debt.

With this agreement, clients of both companies will have access to an enhanced travel and tourism product and service offering, through an omnichannel service model (online, call centre and physical stores).

Despegar said the agreement with Falabella will allow the company to further strengthen its position as the leading travel company in Latin America. 

Viajes Falabella will maintain the brand, its network of physical stores and its digital platforms, to enhance the supply of products and services of Despegar.

Despegar is the leading online travel company in Latin America with over two decades of business experience and operating in 20 countries in the region.
Details
Date Published: 17/04/2019
Target: Viajes Fabella, ´s operations
Country: Chile
Deal Size: 27m (USD)
Sector: Banking/Financial Services
Type: Corporate acquisition
Financing:
Status: Agreed
Vendor: Falabella Financiero
Buyer: Despegar.com, Corp
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