Gate Gourmet sells Portugal operations
Gate Gourmet, a member of gategroup, has sold its interests in Portugal to Newrest effective immediately. Details of the agreement remain confidential.
Gate Gourmet operated a wholly owned facility at the Lisbon airport and was in a 50/50 partnership at Funchal Airport in Madeira, the Portuguese resort island in the Atlantic Ocean. Under the agreement, Gate Gourmet's ownership interests in both operations have fully transferred to Newrest. The transaction is not subject to any further regulatory or shareholder approvals.
Gate Gourmet stated that after careful analysis the decision was made to divest the Portuguese operation as it does not fit with the network strategy going forward. As the operations and workforce have transferred to the new owner in their entirety, the transfer will be without consequence to airline customers.