Sale of LSG Europe completed
The purchase agreement concluded between the Lufthansa Group and gategroup in December 2019 for the European businesses of the LSG Group has now been executed. gategroup fulfilled all the requirements of the European Commission, which meant that the closing of the agreement could take place on December 2, 2020.
Lufthansa and gategroup have agreed not to disclose the financial details of the transaction. In addition to the European LSG Sky Chefs catering operations, the purchase agreement includes the lounge and train business, the retail convenience-food expert brand “Evertaste”, the equipment business of “SPIRIANT” and the “Ringeltaube” retail stores. However, the LSG Group remains present in Europe with its expert brand
“Retail inMotion”, and continues to expand its market-leading onboard-retail and technology business.
“This milestone also marks the beginning of a new chapter for the LSG Group and everyone else who works in the same industry,” said LSG Group CEO Erdmann Rauer. “It is a different world full of unique challenges, but we are confident in the fact that together with our customers we will find the right solutions with the same creative spirit, dedication and hard work that has brought us this far.”
We wish all of the European colleagues a great future and would like to now say … farewell.