Areas, a travel hospitality company headquartered in Barcelona, Spain, has completed the acquisition of Travel Hospitality Services (THS), the airport food and beverage division of Delaware North in the USA. The transaction, which has been approved by US competition authorities, marks the largest acquisition in Areas’ history and is part of its global growth strategy.
The acquisition of THS is intended to treble the size of Areas’ market presence in North America, which now operates as Areas USA.
THS operates 237 outlets across 22 airports in the USA, and generates more than US$500 million in annual revenue. With the integration of THS into its operations, Areas now manages nearly 400 locations across 27 airports and 12 travel plazas, supported by a combined workforce of more than 6,000 employees in the USA.
Areas USA is now Areas’ largest business unit, accounting for 30% of the group’s total revenue, ahead of its France and Iberia businesses.
“The acquisition of THS represents a giant step forward in our growth strategy in the US market,” said Óscar Vela, CEO of Areas.
With this transaction, Areas has achieved its highest-ever revenue, of €2.7 billion (US$3.1 billion), and is working towards a goal of achieving €3 billion (US$3.5 billion) in annual revenue in the coming years. Areas now employs 24,000 people and operates over 2,200 restaurants and stores across 11 countries.
