Carlson Companies announced that it has sold its leisure travel business, Carlson Leisure Group (CLG) to the CLG management team in an internal acquisition. Michael Batt, former president and CEO of CLG, will lead the new group, known as Travel Acquisition Group. They will continue to use the Carlson Wagonlit name for some undisclosed period of time. Details of the transaction were not disclosed; the transaction closed yesterday.
From the press release: "TAG is purchasing all the travel assets and companies currently held within CLG. The business employs over 1,000 people directly with company-owned travel sales approaching $1 billion. Travel sales made within the various franchise groups involved are in excess of $5 billion. Combined cruise sales for the group are in excess of $500 million. Other franchised travel agency brands included under TAG’s umbrella are: Cruise Holidays, Results! Travel and SeaMaster Cruises. Other TAG brands include: All Aboard Travel, Carlson Destination Marketing Services, Connexion Loyalty Travel Services, CruiseDeals.com, Cruise Specialists, Fly4Less.com, Luxury Travel Network, Partners In Travel and SinglesCruise.com."
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