HMSHost Acquires Assets of FoodBrand

HMSHost Corporation has acquired substantially all of the assets of FoodBrand LLC, a provider of food and beverage concessions at airports and shopping malls, from Mills Enterprises, Inc. and Panda Express, Inc. for approximately $13.3 million, including assumed liabilities.

Under the terms of the agreement, HMSHost (through its wholly-owned subsidiaries, Host International, Inc. and HMSHost USA, LLC) has acquired contracts at two U.S. airports (Washington Dulles International Airport and Cincinnati/Northern Kentucky International Airport) and nine shopping malls.  Generating approximately $66.3 million in sales and more than $3.8 million in consolidated unit cash flow, the FoodBrand contracts encompass more than 80 food and beverage outlets and include a number of well-known brands.

abc12.com quoted HMSHost President & CEO, Elie W. Maalouf: “We are committed to providing a seamless transition for airports and shopping centers as FoodBrand exits the concessions business. Through this transaction Landlords, customers, and FoodBrand employees will be well served, and we gain a solid addition to our operations.”

 

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