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Expedia Group is selling luxury vacation wholesaler Classic Vacations to a private investment firm, the Najafi Companies.
In a statement Monday, Classic Vacations said the Najafi Companies signed a definitive agreement to acquire all of its assets from Expedia, effective April 2. The luxury vacation business will see a rebound in the near future and Classic Vacations is well positioned to capitalize on that growth, Jahm Najafi, president and CEO of the Najafi Companies, said in announcing the agreement. Classic Vacations has built a sterling brand over the past 40-plus years with a devotion to their employees, a reputation for incredible products and service and, most importantly, a client-focused culture that is so critical in today s environment. We are excited to have an industry- leading company join our portfolio of brands.
Private Equity Firm Najafi Companies Acquires Classic Vacations from Expedia
March 02, 2021
Phoenix-based private equity firm Najafi Companies has acquired Classic Vacations from Expedia Group, the vacation wholesaler announced on Monday.
The deal, which will be effective April 2, includes all assets of Classic Vacations. It also includes Classic President David Hu, who will remain at the helm along with his leadership team.
“These past months have underlined the magic of being able to travel with friends and family, create new experiences, and make new memories. This is a tremendous opportunity for everyone involved and I am confident that Classic Vacations will be strategically positioned, with The Najafi Companies’ support, to prosper in a post-COVID-19 travel environment,” said Hu. “And while it’s sad to part ways with our colleagues at Expedia Group, this change allows us to further strengthen our partnership with our travel advisors and to better support our trave
Colin Kaepernick Plans to Raise $250m for Social Justice SPAC amren.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from amren.com Daily Mail and Mail on Sunday newspapers.
By Reuters Staff
3 Min Read
(Reuters) - A blank-check firm backed by former NFL quarterback Colin Kaepernick and private investment firm Najafi Companies is aiming to raise about $250 million in its initial public offering (IPO), a regulatory filing showed on Tuesday.
Mission Advancement Corp, a special purpose acquisition company (SPAC), will target consumer businesses with an enterprise value of more than $1 billion, which has the potential to generate a positive social impact, it said in a filing. bit.ly/370OayZ
The footballer, who sparked a national debate when he protested against racial injustice by kneeling as the U.S. national anthem played during a game, will serve as co-chairman of the SPAC.