PLANO, TX / ACCESSWIRE / October 7, 2014 / Ultimate Rack (OTCQB: UTMR), a global holdings company focused on acquiring travel and leisure tourism companies worldwide, announced today it has entered into a Memorandum of Understanding with the principals of Custom Travel Service (CTS), based in St. Louis, Missouri, to acquire 100% of the assets of the firm. Upon the closing of the acquisition, CTS will operate as a wholly owned subsidiary of Ultimate Rack.
Robert Oblon, CEO of Ultimate Rack, stated, "We are nearing completion of our due diligence on CTS, and believe CTS will add significant shareholder value to UTMR. CTS is a small, but profitable leisure travel booking agency focused on providing in-person and telephone assistance to new and repeat customers. With an established revenue stream, CTS will be accretive to both our top and bottom-lines upon the close of the acquisition, which should be by the end of this year."
Donna Knapp, General Manager of CTS, commented, "We are excited about the upcoming ability to provide more value to our existing client base and to attract new clients with an established brand and team behind us." Ultimate Rack, once the acquisition is final, will re-brand CTS to integrate it with Travopoly Travel's existing brand awareness. This turn-key integration provides for all new signage, marketing materials and a website as part of the branding strategy when acquiring brick and mortar agencies around the U.S.
About Ultimate Rack
Ultimate Rack Inc. is a global holdings company created to acquire travel and leisure companies, marketing companies and technologies to elevate the way travel is sold around the world. Our "Blue Ocean" strategy for customer acquisition is powered by fifty plus years of online and offline experience in the worldwide travel space.
About Custom Travel Service
Established in 1986, CTS is a full service travel agency committed to fulfilling the needs of clients, while surpassing individual expectations. The company provides domestic and international travel, tours, all-inclusive resort packages, airfare, hotels and transportation. For more information, visit www.customtravelservice.com.
About Travopoly
Travopoly Travel operates a free subscription-based travel booking and membership site at www.travopoly.com. In addition, Travopoly has a number of branded, booking engines that target very popular destinations worldwide. These online properties, combined with newly acquired agencies in the U.S., can create a diversified portfolio of travel-centric operators. For more information, visit www.travopolytravel.com
This press release contains "forward-looking" statements that are based on present circumstances and on Travopoly's predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements, including any statements of the plans and objectives of management for future operations, are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results described in the forward-looking statements.
Forward-looking statements are made only as of the date of this release. Management does not undertake and specifically declines any obligation to update any forward-looking statements. Readers should not place undue reliance on these forward-looking statements.
This release may include "forward looking statements" within the meaning of Section 27 A of the Securities Act 1933 as amended, and Section 21 E and /or 27 E of the Securities Exchange Act of 1934, that are based on assumptions that in the future are inherently uncertain, may prove not to be accurate, and are subject to significant risks and uncertainties. These include, but are not limited to statements as to the future performance of the company, its ability to raise necessary financing, and other general economic risks and uncertainties.
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SOURCE: Ultimate Rack