Minneapolis-based Schilling Travel will acquire Riverdale
Travel in Coon Rapids, Minn., creating a combined entity under parent company
Allied Continental Holdings with annual sales of more than $20 million.
Allied Continental said the acquisition is the first
step in its "strategic plan to acquire and integrate travel agencies
throughout the Midwest."
The sale is expected to close July 2. After the acquisition
is complete, both agencies will operate under their existing names.
Sandy Anderson, currently the president of Riverdale Travel,
will be the president of travel agency operations after the acquisition is
complete. Riverdale owner and general manager Brenda Nobbe will be the vice president. Amy Ferreira, a partner in Allied Continental Holdings, will be a non-operating partner. Schilling Travel's
current president, Robert Herman, will be managing partner of Allied
Continental Holdings.
Together, Schilling and Riverdale have 128 years of
experience in leisure and corporate travel.
Allied Continental is a partnership between Herman and
Ferreira based in Minneapolis.
"Because of our ongoing desire to further increase the
value proposition and personalized service we offer each individual client,
coupled with our intention to dramatically grow our travel agency operations,
we recognized the best path forward is to join hands with one of the area's
most respected, visionary travel agencies that is also seeking growth,"
Herman said in a statement.