Hudson Provides Update Regarding Agreement to Acquire Assets of OHM Concession Group LLC
East Rutherford, N.J., April 27, 2020 – Hudson (NYSE: HUD), a North American travel experience leader with more than 1,000 stores in airports, commuter hubs, landmarks and tourist destinations, today provided an update regarding its agreement to acquire a controlling stake in the assets of OHM Concession Group LLC (“OHM”), a food and beverage concessions operator in North America, as previously announced on October 31, 2019.
On April 2, 2020, Hudson exercised its right to terminate its agreement with OHM as a result of the closing not having occurred prior to the end date provided for in the agreement. Hudson and OHM are continuing to explore other possible transactions, but there can be no guarantee that any agreement will be reached, or that any such transactions will ultimately be consummated.
Roger Fordyce, CEO of Hudson, commented, “While our acquisition of OHM is not moving forward at this time, our strategy remains intact to become the all-encompassing travel partner and grow our four key pillars: travel convenience, specialty retail, duty free, and food and beverage. Expanding in food and beverage is one of our top priorities. Our team will continue to grow this business organically, as well as pursuing acquisition opportunities in 2020 and beyond.”
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Hudson, a Dufry Company, is a travel experience company turning the world of travel into a world of opportunity by being the Traveler’s Best Friend in more than 1,000 stores in airport, commuter hub, landmark, and tourist locations. Our team members care for travelers as friends at our travel convenience, specialty retail, duty free and food and beverage destinations. At the intersection of travel and retail, we partner with landlords and vendors, and take innovative, commercial approaches to deliver exceptional value. To learn more about how we can make your location a travel destination, please visit us at www.hudsongroup.com.