b'CONCESSIONSLAX 21Erbacci lauds Plummers long history of ACDBE leadership atConcord Collective operates Einstein Bros. BagelsLAX, and acknowledges the many obstacles he has overcome.and seven other food and beverage concessions at LAX. One of the biggest issues for ACDBEs is raising the capital that is necessary to make the one-time investment they need to put a concession in place, Erbacci says. We are looking at different opportunities for us to be able to provide some more assistance there as well.In the case of Concord Collective, Erbacci says that LAWA worked with Unibail-Rodamco-Westfield Airports to do whatever it could to facilitate the historic concessions purchase. Plummer notes that he is grateful for the outpouring of support he has received from LAWA. The Board was very supportive in really walking us through the process, he remarks. Sealing the DealIn April 2020, Plummer brought in equity partners to help secure the business and finalize the transaction.Right now, the ecosystem is still recovering, says Plummer. That was a really difficult process during what was probablyLooking forward, he is optimistic about the current recovery the worst economic downturn in aviation history, Plummerin the airport sector yet cautious about ongoing challenges reflects. That was a really challenging part, but then the realassociated with labor shortages and inflation. In the long term, work started once the deal was finalized. we believe it is going to be a very successful business, says In order to make the venture more profitable, LAWA allowedPlummer. We are really just enjoying the ride, because that is Concord to re-conceptualize the portfolio it inherited from thewhat it is: a ride. We are having a lot of fun building something that joint venture with SSP.will stand the test of timesomething that I am proud of. Greg [Plummer] came up with some very innovative concepts, Erbacci says. He added some national brand names such as Panda Express, and also brought some innovative concepts of his own to the table,Benefits of Energy Seals like the affordable Betcha Burger. PLANES CANT SWEATliquid roof coatings:Historically, concessions operators haveTHATS YOUR Repairs and prevents leaksdone very well at LAX, and Concord CollectiveReduces hangar temperatureis well positioned to follow suit, he adds. ROOF LEAKING Extends the service life of your In late May, Erbacci reported that theexisting roofdomestic terminals at LAX were back to 75%Energy-Seal Coatings KeepWarranties cover labor and of their pre-pandemic passenger levels, andYour Hangar Dry and Cool materials for up to 20 yearshe expected volume to increase even moreInstallation with minimal after Memorial Day.disruptionAs our international traffic starts to comeLow-cost maintenance back, we will be getting closer to our pre-pandemic numbers, and the concessionsCall Energy Seals professionals are starting to do very well there, he adds.today at 800.587.3758 for a FREE If they are not already profitable, they will beconsultation and estimate.very soon.Plummer readily acknowledges that operating concessions at LAX requires more nuance, and capital, than operating traditional streetside restaurants. But he also firmly believes that the Concord Collective model is going to pay off.Weve Got You CoveredBEFORE AFTERenergy-seal.comAirportImprovement.comJuly | August 2022'