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Ardian sells 22% Newrest stake to management, buys smaller stake through co-invest arm

6 May 2014

cake-dessert-food-chocolate-cheesecakeEuropean private equity firm Ardian has sold its 22 per cent stake in catering businesses Newrest to the company’s management.

Ardian said it would re-invest in the business through its co-investment arm, acquiring a new, smaller minority stake in the process.

Newrest specialises in airline and rail catering, buy on-board and concession retail, and also offers support services for remote sites in emerging markets.

Ardian initially backed the business in December 2009 and has overseen its expansion into Africa and Latin America.

The company now operates in 49 countries, up from 32 in 2009.

Newrest generated a turnover of €662m last year, up from €408m in 2009, and has more than doubled the number of employees to 25,000.

Lise Fauconnier, managing director for mid cap buyout at Ardian said, “We are delighted to have been able to support Newrest and its excellent management team during our four-year partnership.

“Today, Newrest is a global leader in multi-sector catering. This transaction realized in December 2009 is a perfect illustration of our ability to find and support companies with strong growth potential.”

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