Areas acquires a US competitor to triple its US sales.

BarcelonaThe mobility catering company Areas has closed the purchase of the airport division of the US-based Travel Hospitality Services (THS) through the investment fund Delaware North. This will mean that the Catalan company will assume management of 237 new points of sale in the United States spread across 22 airports, with a workforce of 4,000 employees and a turnover of more than $500 million (€428 million). The multinational, based in Esplugues de Llobregat (Baix Llobregat), expects the transaction to be profitable, according to the same statement.

Thus, Areas will now control 369 establishments in 27 airports and 12 motorway service areas, with more than 6,000 employees in the US, according to the group's CEO, Óscar Vela.

Consolidation on a global scale

Furthermore, the transaction consolidates Areas as the third-largest global operator in the mobile restaurant sector, such as on motorways, highways, airports, and train stations, as well as in leisure centers and convention venues. The transaction is expected to reach €2.216 billion by 2024—which begins on October 1 and ends on September 30—with global sales of €2.216 billion and an EBITDA (earnings before taxes, interest, and amortization) of €221 million. The multinational's goal is to "reach €3 billion in annual revenue."

Although the agreement between Areas and Delaware North is closed, the acquisition is still pending final approval from the US competition authorities and compliance with the usual legal requirements for this type of transaction.