The proposed transaction further follows gategroup's managed growth strategy, which includes acquisitions that augment geographic presence or service line expansion
LONDON and ZURICH – Alpha Flight Group Limited and Gate Gourmet Holding Netherlands BV signed a letter of intent regarding the sale to Gate Gourmet of Alpha Flight Services BV, Alpha’s Dutch in-flight catering operation at Amsterdam Schiphol airport
“Alpha very much regrets bringing its 40-plus year presence in Amsterdam to an end,” said Lionel Wilton, CEO of Alpha Flight Group. “Nonetheless, we are pleased to have found in Gate Gourmet an established and highly respected supplier in the market who will provide continuity of the highest standard to our customers at Europe’s fifth busiest airport in terms of passengers.”
Annual revenue for Alpha Flight Services BV was approximately CHF 17 million (Euro 14 million) in 2011. gategroup expects the proposed acquisition to be accretive within 12-24 months through synergies in overhead and improved operational processes.
The Alpha operation in Amsterdam offers full catering and provisioning services. It serves several global airlines as well as a number of Middle Eastern and Asian carriers. Gate Gourmet, which already has a catering unit in Amsterdam, intends to continue operating both facilities to provide maximum operational flexibility and growth potential. The combined operation would serve approximately 80 peak season flights a day.
The proposed transaction is subject to customary closing conditions, as well as a consultation process with the respective Works Councils of both companies. Financial results of the proposed acquisition would not be material to gategroup.
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