Train Travel Holdings Inc. [TTHI], a TBG Holdings portfolio company, announced today that TTHI has acquired a control position in Vanell Corp (OTCQB:?VANL). With this position, Train Travel Holdings Inc. has become a subsidiary of Vanell Corp.
Train Travel Holdings Inc. [TTHI] was recently formed to hold the assets of Train Travel Inc. (TTI), an entertainment train company with a 30-year history and a currently operating train, the Columbia Star Dinner Train. Train Travel Holdings Inc. announced the signing of a Binding LOI to acquire TTI and its assets in December of 2013, and is awaiting the completion of a mandatory audit to finalize the acquisition.
Neil Swartz, the new CEO of Vanell Corp, confirmed, “We are pleased to have assembled a top notch management team which will be announced in the next couple of weeks. TTHI is creating a firm foundation with its forthcoming purchase of Train Travel Inc. and its existing railroad assets. Our transition to a publicly traded company will open up opportunities to accelerated growth and rapid acquisitions of other entertainment railroads around the country and abroad.”
TTHI is engaged in acquisition talks with several existing entertainment railroads. “A rollup of an increasing number of such trains will be TTHI’s prime objective. The Company’s goal is to capture a significant percentage of the market share, establishing a dominant presence in the industry, and thus increase shareholder value,” stated Neil Swartz, CEO.
As part of this rollup strategy Train Travel Holdings Inc. will benefit from a centralized booking and management systems with anticipated cost reductions. The primary focus of Vanell Corp. management will be Train Travel Holdings Inc.
For more information concerning this transaction, please see the company’s recent 8K filing with the Securities and Exchange Commission.