Hojeij Branded Foods owns various restaurant brands such as PF Chang’s. Credit: Injustifiiable, Wikipedia.

Lagardère Travel Retail has completed the acquisition of North American airport foodservice operator Hojeij Branded Foods (HBF) for $330m from investment funds managed by Morgan Stanley Capital Partners (MSCP).

The deal was announced in August, when Lagardère stated that the integration will create a $1.1bn business in the North American travel retail and foodservice industry.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Lagardère will also enter a new phase by reinforcing its presence in North America by adding new retail spaces in airports, as well as seizing growth opportunities across all market segments in the US and Canada.

MSCP managing director Adam Shaw said: “We were attracted to HBF given the management team’s demonstrable track record of market share gains within the growing airport F&B industry.

“We were attracted to HBF given the management team’s demonstrable track record of market share gains within the growing airport F&B industry.”

“Over the course of our investment period, HBF, led by Regynald Washington, successfully assembled a top management team, entered numerous new airports and geographies and completed the acquisition of Vino Volo, creating a truly scaled airport operator.”

Established in 1996, the Atlanta-headquartered HBF currently operates more than 124 bars and restaurants in 38 airports across the US and Canada.

The company has 40 brand relationships and proprietary concepts across full service, fast casual and quick service segments such as illyCaffè, LongHorn Steakhouse, Chick­Fil-A, PF Chang’s, Pei Wei and Cat Cora.

In July 2015, MSCP acquired the foodservice company for a transaction value of $155m, and expanded the brands’ presence by increasing the number of airports and restaurant locations.

Under MSCP, HBF also acquired Vino Volo, an airport wine bar chain operating in the US and Canada, as part of MSCP’s strategy to build businesses by collaborating with their founder and owners.