Bethesda, Md – Autogrill Group, Inc., the parent company of HMSHost Corporation and U.S. subsidiary of Autogrill S.p.A., has agreed to acquire CBR Incorporated, an award winning specialty retail concessions company operating at U.S. airports.
CBR Incorporated is a seasoned specialty retailer with more than 30 years of experience developing and managing unique retail concepts in airport environments. Carole Howe, President and CEO, started the company with the opening of the first store, Touch the Earth, in the Minneapolis-St. Paul International Airport in the mid-1970s. Today the company operates more than 60 stores in airports throughout the United States. CBR teamed recently with HMSHost to form Minneapolis Retail Partners, a joint venture currently operating shops as part of Minneapolis-St. Paul International Airport's Northstar Crossing retail program.
"CBR Specialty Retail Inc. will continue to be an industry leader in airport retail. We are excited to become part of HMSHost/Autogrill Group and continue to grow our award winning concepts," said Carole Howe, President of CBR Incorporated.
Under the terms of the agreement, Autogrill Group, Inc. (through a newly created and wholly-owned subsidiary, CBR Specialty Retail, Inc.) has acquired contracts at the following U.S. airports: Baltimore Washington/Thurgood Marshall, Cincinnati/Northern Kentucky, Denver, Houston George Bush Intercontinental, Minneapolis-St. Paul, Nashville, Newark Liberty, Pittsburgh, Portland and Salt Lake City International. The CBR Incorporated contracts encompass more than ten retail concepts, including CBR's proprietary brands such as Spirit of the Red Horse, Creative Kidstuff and Radio Road.
Elie W. Maalouf, CEO of HMSHost Corporation commented, "We are delighted to welcome the CBR associates to the HMSHost and Autogrill team. Under this new arrangement, the existing Minnesota-based CBR management team and associates will continue to offer the quality products and high level of customer care that has made their shops so popular with airport travelers around the U.S."
HMSHost is world-renowned for creating customized shopping and dining spaces in travel venues. The innovative company operates in more than 100 airport locations around the globe, including 19 of the 20 busiest airports in North America. HMSHost has annual sales in excess of $2.3 billion and employs more than 33,000 associates worldwide. A part of Autogrill S.p.A, HMSHost and the rest of the Autogrill Group are recognized leaders in travel amenities. With sales exceeding €3.9 billion, Autogrill is present in 33 countries with more than 4,800 points of sale in more than 1,050 locations (including 163 airports and 689 motorways) where 51,000 employees serve more than 840 million customers every year. Visit www.HMSHost.com for more information.
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