USA. Autogrill subsidiary HMSHost has completed the US$36.8 million take-over of the airport restaurant assets of Concession Management Services, a deal first revealed by The Moodie Davitt Report on 21 June.
The transition of the operations of 16 restaurants (12 at Los Angeles International Airport and four at McCarran International Airport in Las Vegas) became effective on 20 August. 2016 revenues from the outlets are expected to total approximately US$50 million with an estimated store cash flow of US$8 million.
HMSHost parent company Autogrill said: “The acquisition serves the Group’s strategic goal of continuing to strengthen its leadership in the airport food & beverage sector in North America.”
Following the takeover, HMSHost, which already operates food & beverage locations in the two airports, will operate several new restaurants including Panda Express, Marmalade Café (two), Rolling Stone Bar, Loteria Grill, BLD (Breakfast Lunch Dinner) and Wolfgang Puck in Los Angeles, plus Einstein Bros, Bagels, 360 Gourmet Burritos, Baja Fresh and Carl’s Jr. in Las Vegas.
Autogrill Group is the world leader in travel catering. It operates in 31 countries, running approximately 4,200 restaurants in about 1,000 locations, mainly through concessions in travel locations and restaurants in shopping malls, fairs and cultural heritage sites. The company runs a portfolio of over 250 international and local brands, either directly or as a licensor. Autogrill has been listed on the Milan Stock Exchange since 1997.
