The transaction covers 16 new points of sale at the airports of Los Angeles and Las Vegas
Milan, 21 June 2016 - Autogrill (Milan: AGL IM) announces that, through its American subsidiary HMSHost, the Group has reached an agreement with Concession Management Services, Inc. (CMS) to buy its airport F&B business, which is worth around 40 million dollars in annual revenues in 2015 (revenues in 2016 are estimated to be around 50 million dollars). HMSHost will take over a total of 16 points of sale, of which 12 at Los Angeles International Airport and 4 at Las Vegas McCarran International Airport. The deal is expected to be closed by the end of the summer, once the necessary authorizations have been obtained from the landlords.
The acquisition of CMS’s business is part of HMSHost’s strategy to strengthen its leadership position in airport foodservice in North America and at Los Angeles and Las Vegas airports in particular.
“The acquisition of CMS’s business will enable HMSHost to widen its operations and give travellers at Los Angeles International Airport and Las Vegas McCarran International Airport an even vaster offering,” commented HMSHost president and CEO Steve Johnson, who added that “we will carry forward the values that have always characterized our collaboration with CMS, such as service excellence and a focus on the growth and development of our Associates.