WestJet announces deal to acquire Sunwing Vacations and Sunwing Airlines.
WestJet Airlines is about to acquire Sunwing Airlines and Sunwing Vacations.
In a statement, the two companies say an agreement has been reached, which will bring the two tourism companies together.
The deal will see Sunwing's current shareholders become WestJet Group equity holders.
However, financial terms of the agreement have not been released.
A new tour operating business unit will be created under the WestJet Group to include both Sunwing Vacations and WestJet Vacations Inc., and will be led by Sunwing CEO Stephen Hunter.
"This is an exciting moment for WestJet, Sunwing and Canada’s travel industry," said Alexis von Hoensbroech, CEO of WestJet. "We are bringing together two highly complementary businesses with powerhouse brands to strengthen our successful leisure business and deliver greater value to our guests."
The agreement is expected to close later this year.
Province Investing Against Invasive Species
Niagara Driver Charged with Drug Impairment
Welland Man Arrested for Child Porn
28 More Doctors Hired in Niagara
Killed Police Officers Honoured by NRP
Niagara Wineries Shuttle Service Possible
Canal Days Vendors Warned of Scams
Niagara Falls Exploring Hub to Help Homeless