NiXEN disposes of its Newrest shareholding
NiXEN announces the disposal of its shareholding in the Newrest catering services group
NiXEN and Ardian have both decided to spin off their shares in Newrest Group as the management team led by Olivier Sadran and Jonathan Stent-Torriani opt for a third MBO, following those of 2005 and 2009.
With turnover expected to exceed €900 million in 2014, compared with €408 million in 2009, Newrest is a specialist in out-of-home catering (in-flight catering and services, remote sites, rail catering, …).
Since Newrest left the Compass mass catering group in 2005, NiXEN has supported its ongoing development, combining organic and external growth.
Over the last nine years, Newrest has continued to develop its “in-flight catering” business, and diversified into “remote site management” significantly strengthening its portfolio with “rail catering services” through the acquisition of La Compagnie des Wagons-Lits from Accor Group in 2010, and winning the on-board catering contract for France’s high-speed trains (TGV) in 2013 (a joint venture with Elior).
Over the last five years, Newrest has significantly enlarged its international footprint, with significant development in Africa and Latin America. The Group now has operations in 49 countries compared with 32 in 2009, and has created some 13,000 jobs, raising its workforce to over 25,000.
De Pardieu Brocas Maffei (legal): Guillaume Touttée, Frédéric Keller