Jeremy Jacobs is stepping down as CEO of Delaware North, the Buffalo-based hospitality and concessions giant his father and uncles started during World War I, AP said.
The privately-held company announced Tuesday that sons Louis Jacobs and Jeremy Jacobs Jr. have been named as co-chief executive officers. A third son, Charlie Jacobs, will become CEO for the company’s Boston Holdings, which include TD Garden in Boston, New England Sports Network and the NHL’s Boston Bruins, the report said.
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Jeremy Jacobs will continue as company chairman and as owner of the Bruins.
The elder Jacobs, who turns 75 later this month, has been CEO since the death of his father, Louis, in 1968. Louis Jacobs and his brothers Marvin and Charles started the company in 1915 selling popcorn and peanuts at movie houses and ballparks, AP said.
“I have had the tremendous opportunity to lead Delaware North for more than 45 years and have enjoyed it immensely, ” Jeremy Jacobs said. “My sons have been leading the company’s strategic direction and path to growth for some time now. I know the company is in incredibly capable hands.”
Delaware North has vast portfolio of concessions, hospitality, retail, gaming operations globally. The company has more than 60, 000 employees and $3 billion in annual revenues, making it one of Buffalo’s largest privately-held firms, Buffalo Business First said.