EUROPE. gategroup Holding has completed the acquisition of the European operations of LSG Group from Lufthansa. The move was first announced last year.
The transaction includes LSG’s inflight catering operations in Germany, Switzerland, the Netherlands, Belgium, Italy and Spain as well as the global equipment business trading under the Spiriant brand. It also includes the European convenience food operations trading under the Evertaste brand, the Ringeltaube retail outlets as well as its European train catering and lounge operations.
“We are thrilled to have reached this important milestone,” said gategroup CEO Xavier Rossinyol. “The substantial economic challenges brought about by the COVID-19 pandemic required a high degree of flexibility, partnership and trust of all parties involved. We are pleased to have found a viable path forward allowing us to complete the transaction at terms acceptable to both, Lufthansa and gategroup.”
In 2019, the acquired LSG Europe assets generated revenues of €1,112 million and employed 7,750 colleagues.
In compliance with its commitments to the European Union, gategroup has signed binding agreements to divest parts of its existing German inflight catering operations, a minority interest in an inflight catering kitchen at Brussels Airport and some catering assets at Rome Fiumicino and Paris Charles de Gaulle airports. These divestments should be completed by Q1 2021.
