Gategroup Holding has announced that it has met all closing conditions and in consequence has acquired the Inflight Service Group in full, from funds advised by Triton.
The transaction, which will increase gategroup’s revenue by CHF250m and EBITDA by CHF13.4m annually pre-synergies, is expected to be cash accretive to EPS in its first year. Complementing the transaction is TUI Group’s recently announced five-year contract with gategroup via Gate Retail Onboard. This agreement covers the management of inflight retail food and beverage and duty free items as well as pre-order sales in the UK and across the Nordics.
