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Hudson Group Team Opens Airport Stores in Record Time in Cleveland
East Rutherford, NJ – June 17, 2008 – A joint venture partnership that includes Hudson Group, the nation's leading transportation retailer, has won a competitive bid to provide all the retail concession services (10 stores in total) at Cleveland Hopkins International Airport (CLE). The contract, awarded by landlord BAA USA, Inc. on behalf of the airport, has a term of seven years.
The turnover was accomplished at a record pace. The Hudson team learned of the award on May 5. The group gained access to the previous operator's stores on Saturday night, May 31. All stores were open for business the following morning: Hudson News, Hudson Booksellers, Discover Cleveland and the Rock and Roll Hall of Fame store.
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Hudson Group Appoints Experienced Retailer to Top Merchandising Post
East Rutherford, NJ – June 4, 2008 – Hudson Group, the nation's leading transportation retailer, has selected Michael S. Levy, a career retail executive with strong systems skills, to lead the company's merchandise initiatives. Levy will serve Hudson's 550-plus store, $630 million enterprise as Chief Merchandising Officer (CMO) and Senior Vice President of Merchandising.
Levy, a graduate of Syracuse University, is a veteran of 16 years with such premier retail icons as Saks Fifth Avenue, Brooks Brothers and Polo Ralph Lauren.
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Hudson Group Set to Soar With Advent International as New Majority Owner
East Rutherford, NJ – December 17, 2007 - Travel retailer Hudson Group has signed a definitive agreement with global private equity firm Advent International, based in Boston, making Advent the majority owner. The introduction of Advent will support a variety of exciting growth opportunities for Hudson.
Hudson Group operates over 550 newsstands, bookstores, cafes and specialty retail concessions in 69 airports and transportation terminals throughout the United States and Canada, including more than 400 Hudson News stores, the only national newsstand brand in the industry. Revenues are set to top $630M in 2007.
With Advent, Hudson will leverage its position as the premier travel retailer in North America, enabling future strategic acquisitions and the global expansion of the brand. The existing management team, led by president and founder Mario DiDomizio and executive vice president and COO Joseph DiDomizio, will continue to manage the business. The transaction is subject to certain approvals and customary closing conditions. Terms of the agreement were not disclosed.
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