Transat sells Jonview Canada to H.I.S. Co. for $44M

Transat A.T. Inc. has closed the sale of Jonview Canada business unit to Japanese multinational H.I.S. Co. Ltd. (TSE: 9603) for $44 million.

Toronto based Jonview Canada is Canada’s leading receptive operator, providing a full range of travel products and services to the international Tour Operator community. Jonview Canada offers services in English, French, German, Dutch, Spanish, Portuguese, Italian, Japanese and Mandarin.

Tokyo based H.I.S. Co. operates a network of 295 retail stores in Japan and 230 branches in 141 cities internationally. H.I.S. Canada has two offices in Vancouver and Toronto.

“The sale of Jonview Canada completes our strategic refocusing around three main pillars: air transportation and travel distribution, which make up our leisure travel operations, as well as hotel operation,” said Jean-Marc Eustache, President and Chief Executive Officer of Transat. “This transaction is the latest in a series of initiatives we have implemented in recent years to carry out the company’s new development strategy and ensure its long-term prosperity.”

photo credit: Jonview Canada