Tour Operator Acquires CheapCaribbean as Private Equity Backs Buying Spree
With a big assist from Bain Capital, wholesaler Apple Leisure Group (no relation to the other Apple) is rolling up hotel content, and business-to-business and consumer-travel businesses that in theory could make it a player if sage hands manage to execute on its roll-up strategy. The company’s track record in digital doesn’t inspire a lot of confidence, though.
Excerpt from Travel Pulse
Apple Leisure Group (ALG), continuing its acquisition spree backed by Bain Capital, has purchased CheapCaribbean.com, an online travel agency focused on providing customers with vacation packages and resort accommodations in the Caribbean and Mexico.
CheapCaribbean.com will operate as a separate, wholly owned entity within ALG. Josh Paine, president of CheapCaribbean.com, will continue to run the company, reporting directly to Alex Zozaya, CEO of ALG. No purchase price was released.