Northstar Travel Group (“Northstar”), a B2B travel industry events, media and information services company, announced that Japan’s JTB Corp. (“JTB”) has signed a definitive agreement to acquire Northstar from EagleTree Capital and its co-investors.
Northstar operates B2B travel brands such as Travel Weekly, Travel Pulse, Business Travel News and Phocuswright.
JTB traces its origins to the Japan Tourist Bureau founded in 1912 to welcome foreign visitors to Japan.
“As part of the transaction, Northstar will operate as a wholly-owned, independent subsidiary of JTB and will continue to be led by its existing management team, including Chief Executive Officer Jason Young,” JTB said.
The JTB Corp. website says the company runs a Canadian operating division called JTB International(Canada) Ltd., which is billed as “Canada’s largest inbound tour operator serving the Japanese market and one of the largest handling inbound travel from the Asia Pacific.” They also have a Toronto office that operates a “full scale travel agency with an experienced and highly dedicated corporate travel division.”
JTB Corp. also runs a US subsidiary, JTB USA Inc., which “has grown from a travel information service bureau for Japanese travelers to the US to a full-service travel management company meeting the needs of all travellers.”
Terms of the transaction were not disclosed.
AloJapan.com