HMSHost acquires airport retailer Stellar Partners
Autogrill Group subsidiary HMSHost has completed the acquisition of Tampa-based travel venue retailer Stellar Partners.
The purchase marks HMSHost's re-entry into the airport retail business.
Stellar Partners will operate as an independent subsidiary.
As of now, Stellar Partners has 38 convenience and specialty retail stores across 10 US airports while generating annual revenues of $38m.
It operates exclusive brands like Stellar News and Stellar Books along with other brands.
Through the acquisition, HMSHost will leverage on the expertise of the leadership in Stellar to develop its airport retail business. Additionally, it is also said to help in enhancing HMSHost’s retail business in its motorway channel.
Stellar’s growth will be backed up by HMSHost’s resources and experience. Besides that, the acquisition will result in new opportunities for its 250 associates and management team.
The travel venue retailer will remain to be headquartered in Tampa, Florida.
No major changes have been made to its management as well post acquisition. Susan Stackhouse will continue as president and CEO while Ramon Bosquez has been retained as the vice president and COO.
HMSHost operates in over 120 airports across 31 countries which also includes 44 busy airports in North America.
The company had recorded sales revenue of approximately €4.3bn last year. With a workforce of over 57,000 people, it operates around 4,200 stores in more than 1,000 locations worldwide.
Image : HMSHost completes acquisition of US travel venue retailer Stellar Partners. Photo : courtesy of stockimages/freedigitalphotos.net.