The Lufthansa Group and gategroup have concluded a purchase agreement for the European business of the LSG Group. The parties have agreed not to divulge the financial details of the transaction. The sale is also subject to the approval of the relevant competition authorities.
In addition to the LSG Group's European catering operations, the purchase agreement extends to its lounge business, retail convenience food specialist Evertaste, the SPIRIANT equipment business and the retail outlets and operations of the Ringeltaube brand.
The businesses concerned currently employ some 7,100 personnel and generated revenues of around €1.1 billion (US$1.21 billion) last year – about a third of the LSG Group's total revenue volume. The transaction will not have any major impact on the EBIT or the net profit of the Lufthansa Group for 2019 or 2020.
