Lagardère Travel Retail has entered into an agreement to acquire North American airport foodservice operator Hojeij Branded Foods (HBF) for $330m.
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.
Hojeij Branded Foods also acquired Vino Volo, an airport wine bar chain in the US and Canada last year.
The transaction is currently subject to various customary conditions including regulatory approval and third-party consents.
Following the completion of the transaction, the travel company will integrate HBF with its North American division Paradies Lagardère.
Lagardère chairman and CEO Dag Rasmussen said: “This acquisition strongly reinforces the presence of Lagardère Travel Retail in the foodservice industry and is in line with our strategy to grow in the three segments of travel retail: duty free & fashion, travel essentials and foodservice.
“It allows us to expand our concession portfolio and to develop relationships with our brand partners and suppliers. We are very pleased to welcome HBF into our group. Together, we will aim to create a regional leader and break new ground.”
According to the company, the integration will create a $1.1bn business in the North American travel retail and foodservice industry.
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.