- The transaction involves 38 points of sale in ten US airports
- The price agreed upon between the parties is USD$12 million
Tuesday, October 11, 2016 - 07:38
Autogrill (Milan: AGL IM) announces that its subsidiary HMSHost has completed the acquisition of Stellar Partners Inc., a US specialist airport convenience retailer. The price agreed upon between the parties is USD$12 million subject to possible adjustments contractually defined.
Stellar Partners Inc. is currently active in 38 points of sale in ten US airports, with estimated annual sales of $38 million and an EBITDA/revenues ratio of 11%. Stellar Partners Inc. will be wholly owned by HMSHost, though it will continue to be autonomously managed by its current President and CEO Susan Stackhouse and its Senior Vice-President and COO Ramon Bosquez.
The acquisition of a specialist operator of high standing will strengthen the Group’s business in the US airport channel by extending its offering to convenience retailing.
Autogrill announced the signing of the acquisition agreement of Stellar Partners Inc. on 5 Aug