On October 2, 2006, HMSHost Corporation ("Host") completed its purchase of Cara Operations Limited's airport terminal restaurant division ("ATR"), for approximately $62 million less assumed liabilities.
Host (through its wholly-owned subsidiary, Host International of Canada) acquired the ATR business at nine airports in six provinces across Canada. A wholly-owned subsidiary of Autogrill S.p.A, Host and the rest of the Autogrill Group are recognized leaders in travel concessions. Cara Operations Limited, based in Toronto, is one of Canada's leading restaurant companies, and the largest operator of full service restaurants in the country.
Host International was advised inhouse by Jon Stentz, Vice President and Chief Counsel, Development & Brands, and was assisted by a team from the Toronto and Vancouver offices of Fasken Martineau. The Toronto team was led by Jon Levin, together with Scott Conover, Guy Giorno and Jason Kee, assisted by student at law Mark Lefler (corporate); Tony Baldanza, Angela Di Padova, Aaron Stefan and Mark Warner (competition and Investment Canada); Ralph Nero (labour); Ross Gascho (benefits/pension); and Mitchell Thaw (tax). From Vancouver Don Dalik and Prentice Durbin (corporate) provided additional support on regulatory, corporate and finance matters.