Morgan Stanley Capital Partners (MSCP) has announced the sale of its majority interest in North American airport food and beverage concessionaire Hojeij (HBF), the company said.
MSCP sold its stake in Hojeij to LagardÃ¨re Travel Retail (Paris: MMB) for USD 330 million.
MSCP acquired a majority stake in HBF from its founders in July 2015 in a transaction that valued the company at USD 155 million.
Prior to Morgan Stanley´s investment, HBF was majority owned and operated by its founders, both of whom were pioneers within the North American airport F&B industry.
Morgan Stanley Capital Partners, part of Morgan Stanley Investment Management, is a middle-market private equity platform that has invested capital in a broad spectrum of industries for over three decades.
Morgan Stanley Investment Management, together with its investment advisory affiliates, has more than 658 investment professionals around the world and USD 471 billion in assets under management or supervision as of September 30, 2018.
Morgan Stanley (NYSE: MS) is a global financial services firm providing investment banking, securities, wealth management and investment management services in more than 41 countries.