Report: JPMorgan Purchasing Frosch
byDaniel McCarthy/
JPMorgan Chase & Co. has reportedly reached an agreement to acquire travel industry-powerhouse FROSCH.
Thenews was first reported in The Beatand 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 FROSCHwill become a foundation for JP Morgan’s entry into “a new business line.”
FROSCH, which itselfacquired New York’s iconic Valerie Wilson Travelalong 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.