The acquisition adds $85M in sales volume to Tampa-based Stellar Partners.
TAMPA — Stellar Partners Inc., a Tampa-based firm that operates a wide range of retail stores in airports, has acquired the contracts of Pacific Gateway Concessions for an undisclosed sum.
Headquartered in San Francisco, PGC manages 51 retail stores in 10 airports that collectively generate some $85.6 million in annual sales, according to a press release. The acquisition boosts Stellar Partners’ portfolio to more than 100 news/convenience and specialty stores in nearly 20 U.S. airports, the release adds.
“As one of the fastest growing and top airport retailers in North America, it is with great excitement that we officially bring PGC’s locations into the Stellar operation and welcome their employees to the Stellar team,” Stellar President and CEO Padraig Drennan states in the release. “By adding PGC’s innovative stores to Stellar’s award-winning retail portfolio, we are able to further enhance the shopping experience for travelers and take the travel retail industry to new heights.”
Stellar Partners’ retail brands include Ron Jon Surf Shop, Swarovski, TUMI, Mindworks and Stellar News.