Gategroup Buys Servair Stake From Air France-KLM

Swiss catering company gategroup will buy 50 percent of Air France-KLM-owned Servair and assume management control from January 2017.

Gategroup, owned by China’s HNA Group, will buy 50 percent of Servair minus one share for EUR€237.5 million (USD$250.2 million).

The combined inflight catering business will serve more than 300 airline customers from over 200 facilities with 39,000 employees, gategroup said in a statement. Annual revenue following the acquisition is projected to be more than CHF4.4 billion Swiss francs.

Air France entered into exclusive discussions with HNA for the sale of Servair in May.

HNA acquired gategroup for USD$1.5 billion in July this year.