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WICHITA, Kansas — Village Tours & Travel closed a deal July 1 to buy the assets of Salina Charter Coach, a charter and tour business based in Salina, Kansas, The Tenney Group reported this week.
Salina Charter Coach will now operate under the Village Tours & Travel brand. The acquisition is one of two bus companies Village Tours & Travel has purchased through The Tenney Group, based in Arlington, Texas, in 2011. [The second one will be reported in the Sept. 7 edition of LCT E-News].
Village has operations in Wichita, Salina, and Oklahoma City. It operates about 30 motorcoaches and offers more than 200 tour packages on an annual basis.
The terms of the deal, which took about six months to negotiate and arrange, were not disclosed. Village Tours gained three motorcoaches as part of the deal, which was handled by veteran transportation industry broker Charles Tenney.
The deal stemmed from the Tenney team reaching out to and beginning a business relationship with Village Tours and Travel, said Spencer Tenney, the son of Charles Tenney and a broker at The Tenney Group.
“I reached out to [Liles] and caught wind that he needed to sell,” Spencer Tenney told LCT. “We stayed in touch over the course of time. “We understood what they wanted to do and we presented to them opportunities to do a few things.”
The Tenney team ascertained that Village Tours and Travel wanted to eliminate the future possibility of competitors or outside investors coming into their market region and interfering with its growth strategy, Tenney said. By acquiring solid customer lists and well established brands, the business could undergird its position as a travel agency and a charter and tour provider in the Kansas region.