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Despegar to Acquire Mexican Travel Agency Best Day to Strengthen Position in Mexican and Latin American Travel Market
Thursday 30 January 2020

30 January 2020 - Latin American online travel company, Corp. (NYSE: DESP) has agreed to acquire Mexican travel agency Best Day Travel Group for USD 136m, the company said.
Closing of the transaction is expected to take place during the first half of 2020.
A portion of the purchase price is payable on a deferred basis and includes a variable component of up to circa +/- 10% of the total consideration, based on future performance.
Approximately 75% of Best Day's revenue is generated in Mexico, further strengthening Despegar's footprint in this country.
The remaining revenue is generated mainly in Brazil, Argentina, US and Canada, among others. Packages, Hotels and Other Travel Products account for approximately 95% of its revenues.
Best Day operates a cross-platform business model. In addition to its Business to Consumer business operated through its online platform, call centres and more than 200 kiosks, the company offers ground transportation, tours and activities across Mexico main destinations.
Despegar has over two decades of business experience and operating in 20 countries in the region.
Despegar's websites and mobile apps, offer products from over 270 airlines, more than 512,000 accommodation options, as well as approximately 1,190 car rental agencies and approximately 326 destination services suppliers with more than 5,690 activities throughout Latin America.
Date Published: 30/01/2020
Target: Best Day Travel Group
Country: Mexico
Deal Size: 136m (USD)
Sector: Tourism
Type: Corporate acquisition
Status: Agreed
Buyer:, Corp