Despegar.com to acquire Viajes Falabella for $27M
Despegar.com announced it has entered into an agreement with Falabella Financiero, a subsidiary of Falabella, through which both companies plan to establish a 10-year commercial agreement in Chile, Colombia, Peru, and Argentina, the term of which could be extended. Included in the transaction is the transfer of 100% share ownership of Viajes Falabella's operations to Despegar. The acquisition of Viajes Falabella in Chile, Colombia, Peru and Argentina, together with the license to use the Viajes Falabella brand name has been agreed for a total consideration of $27M. The transaction assumes the transfer of these operations free of any financial debt. According to Viajes Falabella, during 2018 the company recorded revenues and EBITDA of approximately $50M, and $3.5M, respectively.