The purchase marks HMSHost’s re-entry into the airport retail business, with Stellar to operate as an independent subsidiary.
Stellar currently operates 38 convenience and specialty retail stores in 10 airports in the US and has annual revenues of $38 million.
The subsidiary will continue to be led by president and CEO, Susan Stackhouse, and senior vice president and COO, Ramon Bosquez, and will remain headquartered in Tampa, Florida.
According to HMSHost, the expertise of Stellar’s leadership will help it develop its airport retail business, as well as help enhance the company’s retail business in its motorway channel.
It adds that its resources and decades of experience will also support Stellar’s growth and provide new opportunities for its 250 associates and management team.
Talking about the deal earier in the year, HMSHost president and CEO, Steve Johnson, said: “We are thrilled to be re-entering the airport retail business by bringing Stellar, considered the best small operator in the industry, into the HMSHost family.
“The expertise Susan and Ramon bring will help us to develop our airport retail business, as well as enhance our existing retail stores in our motorway channel.
"I have known Susan and Ramon for many years, and very much look forward to working with them to grow Stellar in North American airports and position HMSHost to re-enter this $1.5 billion market.”
Stellar, as a subsidiary of HMSHost, will continue to operate its 38 locations in such airports as Tampa International Airport, Orlando International Airport, Philadelphia International Airport, Miami International Airport, San Diego International Airport, and Washington Dulles International Airport.
Stellar currently operates exclusive brands Stellar News and Stellar Books, as well as other popular brands.
Susan Stackhouse founded Stellar nearly 30 years ago when she purchased the single duty free store that she was previously managing at Tampa International Airport.