TORONTO — There’s a changing of the guard at Bannikin Travel & Tourism, with co-founder Jillian Dickens announcing that she has sold the company.
The planned change in ownership will see Dickens sell Bannikin to current leadership and senior team members, including President & CEO Trevor Jonas Benson, Vice President Camilo Montoya-Guevara, and Tourism Development Specialist Caroline Morrow.
The handover is expected to be completed by August 2024.
Dickens says she plans to explore new pursuits in the travel and tourism industry. During the acquisition process, she will continue to serve as Director of Special Projects while at the same time contribution to new opportunities in travel and tourism. Post-acquisition, Dickens will retain a minority interest in the company.
On her departure, Dickens said: “My time with Bannikin has been the most fulfilling and rewarding years of my life, and I am so grateful for all the people I’ve worked with and honoured to have collaborated with the some of the most respected travel brands and forward-thinking destinations in travel,” says Dickens. “After 12 years with Bannikin, I’m inspired to explore new ways to create positive change in tourism and beyond. I’m very proud of the work we have done here, and of the leadership and team that will take Bannikin into its next chapter.”
Benson added: “The opportunity to build upon a solid foundation does not present itself often. Getting the chance to do this with partners [in Caroline and Camilo] is even more rare,” notes Benson. “Much positive and lasting change has already taken place over the past 18 months, including the welcoming of several amazingly talented teammates, and we couldn’t be more thrilled to be working together to shape a new strategic direction for Bannikin.”
An acquisition innovation co-designed with Vistance Capital Advisory is being used to facilitate the purchase, which combines a buy-in management earn-out over a set period with a flexible valuation band.