New Direction for LSG-Airport Gastronomiegesellschaft

 

LSG and SSP Sign Pre-Contract for Transfer of Shares in Airport Restaurant Business Segment

Neu-Isenburg/Eschborn – Today, LSG Lufthansa Service Holding AG (LSG) and SSP Germany (SSP) announced the new direction for LSG-Airport Gastronomiegesellschaft mbH (LAG). 

LSG plans to split LAG into two entities, in order to give the two business segments therein – airport restaurants and lounges – a different strategic direction. 

With this split, the lounge business segment will eventually be transferred to a new legal entity within the LSG Group.

For the airport restaurant business segment, which stays within the LAG legal entity, the two companies signed a binding pre-contract to transfer this portion of the LAG shares to SSP Germany. This pre-contract is subject to the finalization of the LAG carve-out as well as corporate and antitrust approvals.

SSP is active in food and beverage travel concession catering on a worldwide basis and holds a leading market position in Europe and Asia. Airport restaurants belong to the company’s core activities. In Germany, however, the company still has a minor presence in this business segment. Due to its strategic direction and its global strength, SSP has access to an international portfolio of brands and is thus well equipped and prepared to invest into the airport restaurant business. This will offer development opportunities to both the company as well as its employees.

LSG Sky Chefs is the world’s largest provider of in-flight services. 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.
Contact: Josefine Corsten, SVP Corporate Communications, Phone +49 (0) 6102-5999120

SSP, the global specialist for travel concession catering, operates more than 2,000 restaurant and retail outlets at airports, railway stations and motorways in 28 countries. In the financial year ended September 2007, SSP generated revenues of more than € 1.9 billion.
Contact: Ellen Maldaner-Münst, Maldaner-Münst Kommunikationsberatung,
Phone +49 (0) 6192-293800