RE/MAX Holdings, Inc. (the “Company” or “RE/MAX Holdings”) (NYSE:RMAX), today announced that RE/MAX, LLC, one of the world’s leading franchisors of real estate brokerage services, has entered into an agreement to acquire the North America regions of RE/MAX INTEGRA. Once completed, the acquisition will bring nearly 19,000 agents (approximately 12,000 in Canada and 7,000 in the U.S.) and more than 1,100 independently owned and operated RE/MAX offices under the RE/MAX, LLC Company-Owned Region (COR) umbrella. Acquiring independent RE/MAX regional franchises has long been a key pillar of the Company’s growth strategy and a capital allocation priority.
“We are thrilled to announce this regional acquisition, which is by far the most significant in the history of our company in terms of the size of territory and number of agents,” said Adam Contos, RE/MAX Holdings CEO. “The addition of these strategic and geographically desirable regions enhances our ability to continue to scale, brings many attractive growth opportunities and simplifies our operational structure by creating greater efficiencies. I wish to thank RE/MAX INTEGRA co-founders Frank Polzler and Walter Schneider – and their amazing families – for their dedication and passion in growing the RE/MAX brand over the 40-year tenure with our network. Their RE/MAX story moves forward with INTEGRA’s RE/MAX Europe region, where they’ll continue to have a positive impact on region owners, franchisees, sales associates and consumers.”
The North America regions being acquired by RE/MAX, LLC include five Canadian provinces (New Brunswick, Newfoundland and Labrador, Nova Scotia, Ontario, and Prince Edward Island) and nine U.S. states (the New England states of Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont, plus Indiana, Minnesota, and Wisconsin).
“Frank and I knew RE/MAX was special from the very beginning in 1980,” said Walter Schneider, RE/MAX INTEGRA President and Co-Founder. “We were excited about taking an incredibly solid concept that we could help build from the ground up. It’s been a wonderful journey and the friendships we’ve made along the way will last a lifetime. We are confident in the leadership of Adam Contos, Nick Bailey and the entire RE/MAX, LLC team, as well as in their ability to facilitate a smooth transition and ensure a bright future for our Affiliates in North America. We thank RE/MAX Co-Founders Dave and Gail Liniger for their vision, partnership, and friendship during these past four decades, and we look forward to continuing to represent the RE/MAX brand in Europe.”
“Helping grow RE/MAX into the industry’s premier brand and network has been the experience of a lifetime,” said Frank Polzler, RE/MAX INTEGRA Chairman and Co-Founder. “Our North American regions will be in excellent hands and I have no doubt that this new leadership will build on our foundation and take these regions to even greater heights.”
