Report: JPMorgan Purchasing Frosch

JPMorgan Chase & Co. has reportedly reached an agreement to acquire travel industry-powerhouse FROSCH.

The news was first reported in The Beat and confirmed by Travel Market Report. Both FROSCH and JPMorgan declined to comment on the deal after requests from TMR.

While details are still to come on the deal, The Beat’s reporting suggested that FROSCH will become a foundation for JP Morgan’s entry into “a new business line.”

FROSCH, which itself acquired New York’s iconic Valerie Wilson Travel along with Michigan’s Conlin travel last year, joins a growing portfolio of travel brands under the JPMorgan Chase banner.

The company, which is one of the 20 largest American companies in terms of market cap, acquired cxLoyalty, including its technology platforms, travel agency, and points businesses, in January 2021. The goal with that acquisition, according to JPMorgan, was to continue the development of its travel benefits for Chase Rewards members.