HDS Retail North America has acquired a majority interest in DELSTAR Cos. Inc.
DELSTAR, one of the largest women-owned businesses in Phoenix, Ariz., is known for developing merchandising concepts using the idea of sense of place, such as Pueblo Spirit, Arizona Highways, Awesome Atoms, The Phoenix and azcentral.com.
The company was started more than 30 years ago by Pam Del Duca; she will keep ownership of certain entities and stay with the company as president and chief executive officer of DELSTAR.
“We are genuinely excited to join forces with HDS Retail. Their company philosophy is a great match with ours,” she says. “We have been impressed with their professionalism throughout this process and look forward to working together to continue to grow our business in the Southwest and beyond.”
HDS Retail, which operates more than 300 stores including 100 airport locations in North America with concepts such as RELAY and Virgin Books & Music, is a fully owned subsidiary of Lagardé¨re Services.
“We are pleased to welcome Pam and her team to our family and look forward to leveraging our respective strengths in order to exceed expectations of both travelers and airport authorities,” says Gerry Savaria, president & CEO of HDS Retail.
Terms of the deal were not disclosed.
Read more about this acquisition in the October issue of Airport Revenue News.