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Flight Centre completes acquisition of Canadian travel operator Voyages Laurier

Australian travel retailer Flight Centre Travel Group Ltd. on Aug. 5 completed the acquisition of the remaining 25% stake in Canadian travel business Voyages Laurier Du Vallon Inc. Les.

Financial terms of the transaction were not disclosed.

Flight Centre had acquired a 75% stake in the Canadian leisure and corporate travel services provider in August 2017.

The acquisition has enabled Flight Centre to leverage Voyages Laurier's premium offering and target a broader customer base in Canada, the company said.

The Australian company's North American business generated A$70.2 million in profit for fiscal 2018, while profit for fiscal 2019 is expected to be more than A$100 million, it said.