Ardian sells its stake in Newrest to firm’s management

Private equity firm Ardian has sold its 22 percent stake in Newrest to the company’s management. No financial terms were disclosed. As part of the transaction, Ardian will acquire a new minority stake in Newrest. Based in France, Newrest is a multi-sector catering company.


May 6 2014 – Ardian, the premium private investment company, today announces the sale of its 22% stake in Newrest, a global leader in multi-sector catering, to Newrest’s management. The sale will strengthen the position of Newrest’s management by significantly increasing their stake in the business. As part of Ardian’s long-term commitment to Newrest, it will re-invest in the company through its co-investment business, by acquiring a new minority stake.
Newrest is a global group specializing in airline and rail catering, buy-on-board, and concession retail. It also offers support services for remote sites in emerging countries.
Since acquiring its original stake in Newrest in December 2009, Ardian has supported the company in the face of consolidation in its market, reinforcing its position as a leader in the inflight services industry, while supporting its international expansion strategy, notably in Africa and Latin America. Thanks to an ambitious and strategic build-up policy, Newrest has managed to broaden its footprint in emerging countries. It now operates in 49 countries, a significant increase rise from 32 in 2009.
Newrest has also pursued a service diversification strategy, signing numerous new contracts for remote sites as well as a major contract with SNCF’s high speed line catering services. In 2013, the company generated a turnover of €662 million, up from €408 million in 2009. It has also more than doubled the number of employees from 12,200 in 2009 to 25,000 in 2013. In 2014, the Group is expected to post a consolidated turnover of €900 million.
Lise Fauconnier, Managing Director, 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.”
Olivier Sadran and Jonathan Stent-Torriani, Co-President of Newrest, said: “The expertise of Ardian’s teams has allowed the group to broaden its capabilities and international market presence. This transaction reflects our determination to further increase management’s stake in the share capital of Newrest in line with our policy to associate our employees to the results of the company. It is a new step forward for Newrest and its 25, 000 employees”.
Ardian, founded in 1996 and led by Dominique Senequier, is a premium independent private investment company with assets of US$47bn managed or advised in Europe, North America and Asia. The company, which is majority-owned by its employees, keeps entrepreneurship at its heart and delivers investment performance to its global investors while fuelling growth in economies across the world. Ardian’s investment process embodies three values: excellence, loyalty, entrepreneurship.
Ardian maintains a truly global network, with more than 330 employees working through ten offices in Beijing, Frankfurt, Jersey, London, Luxembourg, Milan, New York, Paris, Singapore, and Zurich. The company offers its 300 investors a diversified choice of funds covering the full range of asset classes, including Direct Funds: Infrastructure, Expansion and Mid Cap Buyout, Innovation & Growth, Co-Investment, Funds of Funds (primary, early secondary and secondary), and Private Debt.
With origins in Group Catair in 1996, and founded by its Co-CEO’s Olivier Sadran and Jonathan Stent-Torriani in Toulouse (France), Newrest is today a global leader in multi-sector catering. With 2013 revenues under management of almost €1,085 billion euros and more than 25,000 employees worldwide, Newrest is present in 49 countries. Newrest is the only major catering company active in all catering and related hospitality segments including airline catering, buy-on-board, duty-free on board, rail catering, concession retail, contract catering, remote site and support services.
Newrest is committed to constant improvement and innovation for its clients, the progress of its employees and managers, a sustainable and durable development of the company, respecting social and environmental values in all of its activities.