PLANO, TX / ACCESSWIRE / September 9, 2014 / Ultimate Rack (OTCBB: UTMR), a global holdings company focused on acquiring travel and leisure tourism companies worldwide, announced today it has identified a short-list of brick-and-mortar travel agencies that meet its criteria as potential acquisitions. Among this criteria includes an agency with a niche, geographic footprint, preferred supplier relationships, an established customer base, with annual revenues of up to $2 million with the potential for profitable growth.
Following a strategic alliance and definitive consulting agreement with Travopoly Travel ("Travopoly"), an online leisure travel booking firm and tour operator, Ultimate Rack is pursuing a roll-up strategy of small to mid-sized brick-and-mortar travel agencies that can be acquired at a discount given current market conditions.
Robert Oblon, CEO of Ultimate Rack, stated, "Our focus is on acquiring agents who operate from dedicated offices that want to accelerate sales, while maintaining personalized service to best suit the more complex tour and destination travel industry. Our first potential acquisition looks very promising and meets our criteria for attributing upwards of $2 million in annual sales."
"We think creating a cluster of small, but profitable agencies specialized in popular destinations for the European and North American traveler, can create sustainable shareholder value over the long-term. We look forward to announcing additional details of our first planned acquisition soon," added CEO Oblon.
Forward Looking Statements
Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
For further information and inquiries:
Ultimate Rack Inc. [email protected]
SOURCE: Ultimate Rack