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NEWS Last modified on August 4, 2014

Fraport AG buys US airports concessions developer Airmall

The Fraport Group has expanded its international portfolio in the global airport market by acquiring 100% of US based AMU Holdings Inc, which owns concessions developer Airmall.

The firm develops North America markets space at Baltimore/Washington International Thurgood Marshall Airport, Boston Logan International Airport, Cleveland Hopkins International Airport, and Pittsburgh International Airport, which together handle a total of about 70 million passengers per year.

Airmall currently oversees about 34,000 square meters of space in the passenger terminals at the four airports – with about 270 retail and food and beverage outlets operated by international, national, regional and local tenants.

Fraport AG’s executive board chairman Dr Stefan Schulte, welcomed the acquisition deal: “The retailing business at our Frankfurt home-base has always been a growth engine and we have repeated this success story consistently over the years at our other Group airports worldwide.

“With the acquisition of Airmall, we have established a promising platform for developing our U.S. business in the future.”

Dr Matthias Zieschang, Fraport AG’s executive board member for finance (CFO), as well as acquisitions and investments, says it will give the firm presence at these four airports for 'further expanding our brand reputation in the US market'.

He adds it will give Fraport the right prerequisites for further growth on the continent and in other parts of the world.

Airmall’s headquarters will remain at Pittsburgh International Airport, and the addition of Airmall will help provide new two-way synergistic benefits, which Fraport says it is a win-win business relationship, as both are 'dedicated to enhancing the passenger experience at airports'.

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