Market Overview

Great Southern Financial Sells Travel Division to Adelman Travel Group

Adelman Travel Group has announced it will acquire Great Southern Travel, the travel agency division of Great Southern Financial Corporation (NASDAQ: GSBC).  The deal is the largest acquisition in Adelman's history and caps a series of business moves that will increase the company's revenue by a projected 25% percent this year.

"We are a very different company than we were two years ago," said Steve Cline, chief operating officer of Adelman Travel Group.  "We have always been a strong player in the business and corporate travel sector, but we knew we had to round out our line of services.  Bringing in Great Southern Travel opens up a new market for us within corporate travel and greatly expands our vacation travel business."

Great Southern Travel, based in Springfield, Missouri, was founded in 1977 as a division of Great Southern Financial Corporation.  It is one of the top 100 travel agencies in the United States, with about 90 employees in 13 locations.  Cline said the acquisition is unique, and attractive to Adelman, because it offers no redundancies in employee positions or functions.  "In

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Posted-In: News Guidance Contracts Asset Sales Management M&A Global

 

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