PARADIES acquired by LAGARDERE TRAVEL RETAIL

Paradies Lagardère, the North American division of Lagardère Travel Retail, executed the acquisition of Tastes on the Fly to significantly bolster its Foodservice operations across the continent. This strategic move is a cornerstone of the acquirer's ambition to become one of the largest and most respected airport restaurant operators in North America. The transaction provides Paradies Lagardère with an award-winning portfolio of restaurant concepts that are highly complementary to its existing operations. The rationale for the acquisition was heavily influenced by Tastes on the Fly's strong reputation for delivering high-quality, locally-inspired dining experiences, which aligns with Paradies Lagardère’s commitment to enhancing the airport passenger journey. For the seller, private equity firm H.I.G. Capital, the sale marked a successful exit following an investment period that began in 2017. During its ownership, H.I.G. supported the company through significant strategic growth and helped it navigate the severe downturn in the air travel industry. The deal structure ensures management continuity, with the target's experienced executive team remaining in place to facilitate a seamless integration and continue driving growth under new ownership.