SALINA, Kansas — Village Tours and Travel recently bought the assets of All American Tours, a charter and tour business based in Hays. It is the second time this year that the travel agency has bought a charter bus company.
Financial terms of the deal, which closed around July 15, were not disclosed. No buses were bought as part of the deal, which took about five months to complete, said Spencer Tenney, a broker at The Tenney Group, a transportation business brokerage based in Arlington, Texas.
The acquisition is one of two bus companies Village Tours & Travel has purchased through The Tenney Group in 2011. Village has operations in Wichita, Salina, and Oklahoma City, runs about 30 motorcoaches, and offers more than 200 tour packages on an annual basis. A previous acquisition by Village Travel was reported in the Aug. 31 edition of LCT E-News.
“The acquisition of All American Tours allows our company to expand our customer base while securing more control of the Kansas market,” said Jeff Arensdorf, co-owner of Village, in a press release. Additionally, the deal also will allow Village to increase the overall use of its fleet.
All American Tours, which will be absorbed into the Village Tours and Travel brand, has been a well-respected company for the last 14 years as a result of providing charter and tour service to high schools, universities, churches, and casinos.
Ron Legleiter, former owner of All American Tours, said in a press release, “I have a lot of respect for Village Tours & Travel. They are a top notch company.” Legleiter added that he did not have to sell his business. “The timing was right and the terms of the deal were very fair, so it was really just a business decision.”
Legleiter wanted to sell the business to have more time to run other businesses he owns, Tenney told LCT. He knew he would have to upgrade his vehicles and equipment within a few years and wanted to avoid those expenses, he said.
“So many business owners wait until they do have to sell and then they are disadvantaged,” Tenney said. “And buyers will smell desperation and communicate that through offers. [Ron] was in a much better position to get a better deal financially and wasn’t required to sell through health, or financial stress, or some other reason. He decided to sell business and had other goals.”
Information on Village Tours & Travel, please visit www.villagetours.net or contact (316) 721-4455; The Tenney Group, www.thetenneygroup.com, (877) 642-8033
Sources: Martin Romjue, LCT editor; The Tenney Group