USA. Stellar Partners has completed the acquisition of Pacific Gateway Concessions (PGC). The deal was first announced in February.
Through the acquisition, HMSHost-owned Stellar gains 51 stores across ten airports, and an estimated US$85.6 million in annualised sales going forward. This, said the retailer, will increase its portfolio to over 100 news/convenience and speciality stores in nearly 20 US airports.
“As one of the fastest growing and top airport retailers in North America, it is with great excitement that we officially bring PGC’s locations into the Stellar operation and welcome their employees to the Stellar team,” said Stellar President and CEO Padraig Drennan. “By adding PGC’s innovative stores to Stellar’s award-winning retail portfolio, we are able to further enhance the shopping experience for travellers and take the travel retail industry to new heights.”
Stellar hailed the “spirit of innovation” at PGC, and noted that it had built “extensive range of on-trend stores and unique products from local suppliers for travellers” through its network.
