LSG Sky Chefs Sells Shares in LSG Sky Chefs Espana S.A.

 

Neu-Isenburg, Germany/Toulouse, France - LSG/Sky Chefs Europe Holdings Ltd. (“LSG”) and Newrest Servair, S.L. (“Newrest”) have signed a share purchase agreement for the acquisition of all shares in LSG Sky Chefs Espana S.A. by Newrest, subject to approval by the antitrust authorities and LSG’s corporate approval procedure.

The agreement covers airline catering facilities and industrial feeding operations at the Madrid, Barcelona, Palma de Majorca, Malaga and Gerona airports. The share transaction does not change the employment relationships. Both parties plan to transfer ownership as soon as possible pending above mentioned approvals.

“The Spanish market has not been profitable for LSG Sky Chefs in recent years. Additionally, important airline customers have exited the market. Both factors have led us to this decision. We are, however, confident that Newrest will continue to provide excellent customer service in the Spanish market”, says Thomas Nagel, LSG Sky Chefs Chief Operating Officer.

Jonathan Stent-Torriani, Newrest Group CEO said: “The acquisition of LSG Sky Chefs Espana will represent an important stimulus for our activities in the Spanish market and the Mediterranean rim. Through this transaction, Newrest’s first objective will be to continue focusing on quality products and services for our customers."

Both parties agreed to keep the commercial terms and conditions of the transaction confidential.

About LSG Sky Chefs
LSG Sky Chefs is the world’s largest provider of in-flight services. These include airline catering, in-flight equipment and logistics as well as the management of onboard service and in-flight retail. The group is also the industry leading expert in managing the complete in-flight service supply chain for several airlines. LSG Sky Chefs partners with 270 airlines worldwide and operates some 190 customer service centers in 47 countries, producing around 387 million airline meals a year. In 2006, the companies belonging to LSG Sky Chefs Group achieved consolidated revenues of € 2.3 billion.
Media contact: Josefine Corsten, SVP Corporate Communications, Phone +49 6102 5999 120

About NEWREST Group
Newrest Group is a private company based in Palma de Majorca (Spain) with revenues in excess of 400M€ per annum and more than 8.000 employees in 18 countries. Newrest is specialized in „travel related services“ including airline & industrial catering, airport restaurants and bars, support services, remote site services and on board sales of food, beverage and retail goods. The company is majority owned by management, led by its two CEOs, Jonathan Stent-Torriani and Olivier Sadran.
Media contact: Christian Bris, VP Commercial, Phone : + 33 689 976 944