The Los Angeles Board of Airport Commissioners has approved a 17-year agreement with the Westfield concession company to provide food-and-beverage, retail and other passenger services at Los Angeles International Airport (LAX).

The agreement covers the existing Tom Bradley International Terminal, the new Bradley Terminal currently under construction, Terminal 2 and the iconic Theme Building.

Los Angeles World Airports (LAWA), the city agency that manages LAX, is forecast to receive approximately $331.1 million over the full term of the contract, airport officials said.

Westfield and its concessionaires will be required to invest no less than $81.9 million in initial improvements and $16.4 million in mid-term refurbishment improvements to the terminals and Theme Building.

“A major focus of our customer service improvements is to create a cohesive, memorable and high-quality dining and shopping experience with a variety of new and innovative options that offer a ‘sense of place’ reflecting the Los Angeles region,” LAWA Executive Director Gina Marie Lindsey said. “Our selection of Westfield Concessions Management will allow us to meet the demands of today’s travelers for quality dining, shopping and other services in a timely, cost-effective manner.”

Westfield Concessions Management, LLC, was selected from among three applicants following the release of a request for proposals in May 2011. Proposals were evaluated by a panel of four LAWA executives and one outside member on issues such as concession development experience/capabilities; design and construction experience/capabilities; and a management team dedicated to LAX.

“Westfield is very proud to be selected to partner with Los Angeles World Airports in the transformation of Los Angeles International Airport,” said Peter Lowy, Westfield Group chief executive officer. “We are fully committed to bringing our global resources and development expertise to deliver an iconic, world-class airport experience.”

Westfield currently has operations similar to LAWA’s model at nine other U.S. airports.