USA. Leading Barcelona-based travel food & beverage player Areas has struck an agreement with Delaware North to acquire its US airport food, beverage and retail business, Travel Hospitality Services (THS). The transaction is subject to regulatory approval in the US and other customary closing conditions.
As part of the agreement, Areas will take over the management of 237 THS locations across 22 US airports, supported by a team of 4,000 employees and generating over US$500 million in annual revenue.
The acquisition marks a major milestone in Areas’ expansion strategy in the US market, which it has earmarked for growth. Through THS Areas will increase its presence in the country and become a leading travel hospitality operator in the market.
Upon the closing of the transaction, the combined company will operate a total of 369 locations in 27 airports and 12 travel plazas, and strengthen its workforce in the US with a team of over 6,000 people.
On a global scale, Areas will now generate over US$3 billion in annual revenue, with 2,200 points of sale and 24,000 employees across 11 countries.
Areas CEO Óscar Vela said: “This agreement represents a key step forward in Areas’ US growth strategy. It allows us to increase our business in the country, positions us to be a major player in the US and make the country our largest business unit worldwide.”
Areas USA CEO Carlos Bernal added: “I have the utmost respect and admiration for Delaware North and the Jacobs family, and look forward to welcoming the THS team to Areas as we embark on this exciting new chapter. With our shared commitment to exceptional service and a passion for enhancing the traveller experience, we’re poised to revitalise travel hospitality across the US.”
Delaware North CEOs Jerry Jacobs Jr., Lou Jacobs and Charlie Jacobs said in a joint statement: “We take immense pride in the work our teams have done in the travel sector, and it was crucial to find the right successor to steward our important relationships and care for our employees and guests.
“With Areas, we found a great cultural match, backed by an established and notable presence in the industry. Exiting our longstanding US airport hospitality business was a carefully considered decision and will allow us to focus on strategic growth across the remainder of the Delaware North portfolio.”
Separately, Delaware North has a solid travel presence in Australasia and the UK across air and rail channels. Delaware North group activities also encompass foodservice at sports stadiums, national and state parks and casinos. 
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