The largest aviation catering company Gategroup has completed the acquisition of the European divisions of the LSG Group from the European aviation concern Lufthansa.
In the new status, LSG will provide in-flight catering for airlines in Germany, Switzerland, the Netherlands, Belgium, Italy and Spain, and will continue to trade in SPIRIANT branded equipment globally and other operations.
The acquisition price was not disclosed, but in 2019 the acquired assets of LSG Europe brought in revenue of 1,112 million euros.
“The challenges posed by the COVID-19 pandemic required a high degree of flexibility, partnership and trust from all parties involved,” said Gategroup CEO Xavier Rossignol. "We are delighted to have found a mutually beneficial path to close the deal on terms that are acceptable to both Lufthansa and the Gategroup."
As part of the deal, the Gategroup will build and equip a new “culinary think tank” for Lufthansa to generate “fresh creative concepts” for continuous customer service.
Thus, the deal, which was announced on December 9, 2019 after its approval by the European Commission, has been completed.