NORTH AMERICA. Stellar Partners has struck a deal to acquire privately-held Pacific Gateway Concessions (PGC), with the transaction expected to close in the second quarter of this year.
The move maintains the HMSHost-owned company’s strategic growth plan in North America and will increase its portfolio combined to 99 news, convenience and speciality stores in 20 airports throughout the USA.
It includes airports where Stellar did not previously do business and several sites currently under construction.
As reported, Stellar’s acquisition of Avila Retail Development & Management last year already added 25 airport stores in Albuquerque, Denver, San Francisco and Phoenix to the portfolio.
“As we continue our strategic growth, PGC is a perfect fit for Stellar and our retail portfolio,” said Stellar President and CEO Padraig Drennan. “The brands and their store employees bring extraordinary value and unmatched service to deliver on the travel retail experience. Our business synergies combined with our complementary areas of expertise will empower Stellar’s transformational growth plan.”
“Pacific Gateway’s creative approach to airport retail has contributed to the company’s tremendous growth and success,” said Pacific Gateway Concessions CEO Erik Ward. “Stellar’s culture of innovation is the perfect fit for Pacific Gateway and, together, we will bring even more exciting experiences for travellers to airports.”
Stellar said in a statement: “PGC has established itself as an award-winning company known for seeking innovative products and ideas from local suppliers for the airport and Stellar will carry this practice forward.”
Stellar also hailed PGC’s “strong entrepreneurial spirit that helped build an extensive range of on-trend store brands”.