Overview
- Classic Vacations will continue as an independent brand while leveraging TBO’s platform to accelerate growth.
- Classic reported 2024 revenue of $111 million and operating EBITDA of $11.2 million, supported by a network of more than 10,000 travel advisors and suppliers.
- TBO is executing the purchase through step-down subsidiary TBO LLC, with an approved intra-group loan of up to INR 350 crore to help fund the deal.
- TBO Tek shares jumped in early trade by roughly 12–15%, with intraday highs reported around Rs 1,550 to Rs 1,597 following the announcement.
- Moelis & Company and Ballard Spahr advised Classic, Cooley LLP and PwC advised TBO, and The Najafi Companies is selling Classic after acquiring it from Expedia in 2021.