TBO TEK Ltd to Acquire Classic Vacations from The Najafi Companies for $125 Million

TBO TEK Ltd, a Gurugram, India-based company, has agreed to acquire Classic Vacations, a leading U.S. luxury travel wholesaler, from The Najafi Companies, a Phoenix-based investment firm. The acquisition is valued at up to $125 million and is expected to strengthen TBO's position in the global luxury travel market. Classic Vacations delivered a revenue of $111 million and an operating EBITDA of $11.2 million in the fiscal year ended Dec. 31, 2024. The acquisition is strategic for TBO as it aligns with the company's vision to expand its global reach into North America and serve the premium outbound travel market. Classic Vacations will continue as an independent brand while leveraging TBO’s technology and distribution capabilities to grow its business.