‘A Historic Acquisition’: FROSCH and VWT Talk Acquisition

On Tuesday, one of the major agency moves of the COVID-19 pandemic era was unveiled when FROSCH announced it had acquired the iconic New York-based Valerie Wilson Travel (VWT).

The deal will see VWT operate under the FROSCH umbrella. It will also see the bringing together of two of the travel industry’s most storied families, the Wilsons, led by Valerie Wilson and her children, and the Leibmans, led by Richard Leibman and his children. 

Richard and Valerie have a relationship that goes back almost four decades. The two met on a joint advisory board 38 years ago, and the coming together is a natural fit for two second-generation family businesses that have admired each other’s success in the industry. 

“This is a momentous day for us, a momentous time, to bring two families that share two common values together,” Bryan Leibman, president and CEO of FROSCH said. “It is truly an honor to be able to welcome them to the FROSCH umbrella.”

What is changing for VWT?
Aside from a small relocation, the plan is for VWT to continue to operate the same way it always has been.  

Valerie Wilson Travel is going to remain an independent brand, but will now operate “proudly” under the FROSCH umbrella. Valerie Wilson is staying on, leading VWT through its next chapter. On Tuesday, Wilson spoke about her plans moving forward. 

“There’s a standard joke in my family that I will be working at my desk until the day I am no longer in this world and then I will be reaching down from heaven to tell you what you are doing is either right or wrong,” she said. 

The rest of the team at VWT is expected to say on. 

Kimberly Wilson-Wetty and Jennifer Wilson-Buttigieg will also remain, and they “aren’t looking to go anywhere,” Wilson-Buttigieg said. Brian Buttigieg, who was CFO at VWT, is joining the FROSCH executive team and is general counsel effective immediately. 

What is next? 
Speaking to TMR on Thursday from Valerie Wilson’s New York Office, both Bryan Leibman and Jennifer Wilson-Buttigieg said that there is still a lot to be written about the story. 

“We are still like kids in this space,” Leibman said. “We’ve done this for 20-plus years, but we are still very much in the spring of our careers. We are heading into the peak of our careers and are ready to rebuild and lead this industry.” 

Both also agreed that even less than a week into the deal, the comfort both families and both businesses are showing with each other is something special. 

“We’ve always respected each other at an incredibly high level,” Wilson-Buttigieg said. “We’ve been able to finish each other’s sentences this week.” 

“It’s as simple as taking the FROSCH logo with the globe and the VWT logo with coordinates on the compass, they fit together so well,” she added. 

In terms of the future of the company, Leibman told TMR that it is pretty simple. It is all about building a great company. The decisions FROSCH makes now, including its acquisition of VWT, and moving forward will all be geared toward that goal.

“We just continue to make ourselves better and better. You can never rest on your laurels, you never get on an airplane and say I’m not going to make a seat better,” Leibman said. “We are always looking to take it to better heights, to continue to invest and improve and push ourselves and surround ourselves with great people.” 

There is also continued growth of scale for FROSCH, something that Leibman sees as extremely important for FROSCH to be able to continue to thrive.

“If there is anything we’ve seen from this week is that you need scale,” Leibman said. “We build first on culture and service and then it is scale and technology all coming together.”

A focus on ICs
A theme throughout the week of announcements from both FROSCH and VWT was a focus on independent contractors, which is where having that scale also helps.

Marc Kazlauskas, the president of the leisure division and U.S. branch operations for FROSCH, said during Tuesday’s announcement that “we are the very best home for ICs” and they want to only get better going forward. 

“We want to be home again for these ICs and associates and for employees – bringing our two brands together means we will dominate all sectors of premium travel space,” he said. 

“We are going to be the place. The place for ICs. The place for associates. The place for employees,” he added. 

Aside from the technology component, which is a massive part of FROSCH’s success, and the scale, the FROSCH-VWT marriage will be attractive to ICs who want to earn, who want to be empowered, and who want an organization that they can trust. 

“Things are going to go wrong in the world and you want a partner to have your back,” Wilson-Buttigieg said. 

“That word support is enormous. You have to go to people who know,” Leibman said. 

The joint company will also have a huge geographic footprint, so for ICs who succeed in an office, there will certainly be opportunities to do so with FROSCH and VWT. 

A commitment to New York
Speaking of geography, another reason why the acquisition is such a natural fit is that both FROSCH and VWT are very much dedicated to the in-person setting, especially in New York. 

VWT has long been headquartered in New York, while FROSCH has been headquartered in Houston. The deal, like another merger in the New York area recently, allows them to consolidate some office space. 

“One of the keys to this combination is New York. New York is one of the greatest cities in the world,” Brian Buttigieg said. “FROSCH has always had, for a long time, a commitment to New York City and it’s clear that Valerie Wilson Travel was founded in New York and has always made New York home.” 

VWT will be leaving its current office space at the end of the year and will be moving to a new shared office space with FROSCH on East 51st Street, a building currently being renovated specifically for FROSCH. 

“We’re pulling the brands together in a special and unique way,” Buttigieg added. “We’ll be able to manage our real estate footprint very effectively.”