US. In big breaking news, HDS Retail North America has acquired News & Gift Shops International (NGSI), an airport concessionaire based in San Antonio, Texas
NGSI operates 47 stores in 10 airports: Austin, Houston, San Antonio, Phoenix, Eagle Vail, Aspen, San Juan, St. Thomas and St. Croix (US Virgin Islands) as well as in St. Maarten.
Concepts developed by NGSI include the “˜Stars of’ Concept; a Texas gifts and souvenir boutique; the Team USA sports apparel and accessories Store; as well as regionally-themed newsstands such as Prairie News, Island News and Alamo News. NGSI also operates airport gourmet coffee shops and bar and grill restaurants.
This transaction follows the acquisition last September of a majority interest in Phoenix-based Delstar in support of HDS Retail’s strategy to create a strong operating base in the US Southwest.
NGSI parent company PMG International Ltd maintains an interest in NGSI-San Antonio. “We are pleased to be completing this transaction with HDS Retail. I have known their people for many years and they are a first-class organization,” said Brian Weiner, Chief Executive Officer of PMG International.
President of NGSI Jeff Sailer will stay on with HDS Retail in a business development capacity. “We are very excited to team up with a world leader. We are confident that this will allow us to remain competitive in the long run in the historical markets of NGSI as well as to expand into new markets,” he said.
HDS Retail President & CEO Gerry Saveria commented: “Combined with our acquisition of a majority interest in Delstar just three months ago, this transaction reaffirms our company’s commitment towards expanding our U.S. airport business.”
Terms of the agreement were not disclosed.
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