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Advent acquires travel retailer Hudson Group18/12/2007. Source: AltAssets. 
 Boston-based private equity firm Advent International has agreed to acquire travel retailer Hudson Group. Financial terms of the deal were not disclosed.
Hudson operates about 550 news stands, bookstores, cafes and retail concessions in 69 airports and transportation terminals throughout the US and Canada. The company's revenues are set to top $630m in 2007, according to a statement.
Hudson's existing management team, led by president and founder Mario DiDomizio and executive vice president and COO Joseph DiDomizio, will continue to manage the business. Hudson's owners, James and Robert Cohen, will retain a minority stake in the company going forward.
'Hudson's successful track record in airport retailing speaks for itself - the company has been a driving force in changing the face of airport concessions,' said David Mussafer, managing director and head of Advent's North American deal group. 'We are excited to partner with them to help build on their success and expand the company domestically and overseas.'
Hudson is Advent's tenth investment in travel-related businesses. The firm's previous investments in the sector have included Mexican airport restaurant and bar operator Aerocomidas, duty-free retailer Dufry; Brazilian travel retail operator Brasif and Fumisa, the commercial operator of Mexico City International Airport.
Copyright © 2007 AltAssets
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