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Varnum Represents Airport Concessions Business in Sale

August 9, 2023

The concessions business of Midfield Concession Enterprises, Inc. (MCE), a premier food and beverage service organization operating restaurants in airports throughout North America, has been acquired by SSP Group plc (SSP). The acquisition adds more than 40 new concession locations at six different airports to the SSP portfolio. SSP said the acquisition is expected to contribute an additional $100 million to its North American revenue on an annualized basis.

Varnum represented MCE in the matter, negotiating and drafting purchase agreements and other transaction documents for the respective MCE business at each of the six airports, as well as providing due diligence and other ancillary work. The Varnum team included Michael Romaya, Jake Droppers, Mallory Field and Jake Whately. In addition to typical M&A work, the team navigated unique DOT and FAA regulatory issues, including the Airport Concessions Disadvantaged Business Enterprise (ACDBE) program, and helped coordinate third-party approvals, consents and/or notices for the 40+ concession locations. Chris Baker assisted with the transfer of the liquor licenses associated with various locations.

Founded by President Andrea Hachem, MCE is a minority-owned concessions company founded in 2002 in the Metro Detroit area and operating concessions located at Detroit Metropolitan Wayne County Airport (DTW), Philadelphia International Airport (PHL), Cleveland Hopkins International Airport (CLE), Minneapolis-St Paul International Airport (MSP), San Francisco International Airport (SFO) and Newark Liberty International Airport (EWR).

“We were very happy with our representation from Varnum,” Hachem said. “Selling a business can be challenging but we felt comfortable every step of the way and very satisfied with the outcome.”

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