Travel and Transport Inc., which ranks as the second-largest travel agency in the Kansas City area, has bought out Ultramar Travel Management Inc. in an all-cash transaction.
The acquisition creates a combined entity with 1,000 employees in 37 states and annual sales of more than $2 billion.
Despite the common ownership, Travel and Transport and Ultramar will continue to operate separately under their respective names.
“We have always respected Ultramar as a competitor and knew that its strengths in the marketplace would be a perfect complement to ours,” William Tech, president and CEO of Travel and Transport, said in a written statement. “By preserving those strengths and maintaining Ultramar’s leadership and operations as we combine our financial bases with our respective areas of expertise, we believe we are setting the stage for accelerated growth for both sides of the organization.”