OTG, a leading U.S. airport food and beverage operator, announced its acquisition by an investor consortium led by Oaktree Capital Management and Centerbridge Partners. This move, part of OTG’s strategic growth plan, involves a leadership transition with Tom Fricke appointed as Chairman of the Board and interim CEO. OTG’s founder, Rick Blatstein, steps down but reflects positively on the company’s journey and its future. The consortium plans to support OTG’s innovation, airport infrastructure investment, and expansion, aiming to enhance the airport dining experience.
About OTG
OTG, founded in Philadelphia in 1996, is a prominent North American airport food & beverage operator, managing over 350 locations in major travel hubs. It focuses on combining high-quality, local food with advanced technology, transforming airport dining experiences. www.otgexp.com
About Oaktree
Oaktree, with $183 billion in assets as of September 2023, is a global leader in alternative investments, specializing in various sectors including credit, private equity, and listed equities. www.oaktreecapital.com
About Centerbridge Partners
Centerbridge Partners, established in 2005, manages about $38 billion across disciplines like Private Equity, Credit, and Real Estate, focusing on global investments. www.centerbridge.com
About Sculptor
Sculptor, an alternative asset manager with a 25-year history, manages $32.8 billion in assets as of November 2023, excelling in opportunistic investing. www.sculptor.com
About CPP Investments
CPP Investments, managing the Canada Pension Plan’s C$576 billion fund as of September 2023, invests globally in diverse assets, operating independently from the government. www.cppinvestments.com
About OHA
OHA, part of T. Rowe Price Group, is a global credit-focused alternative asset manager with $63 billion in capital as of September 2023, known for risk-adjusted returns and long-term partnerships. oakhilladvisors.com
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