Paradies Lagardère parent company Lagardère Travel Retail has agreed to acquire airport restaurateur Tastes on the Fly. The deal, which will significantly expand Paradies Lagardère’s dining footprint in North America, requires regulatory approval and is expected to close during the fourth quarter of 2023. A purchase price was not disclosed.
The Tastes on the Fly portfolio includes 25 concepts across five major airports, including San Francisco International Airport (SAN), Denver International Airport (DEN), John F. Kennedy International Airport (JFK), Boston Logan International Airport (BOS) and Vancouver International Airport (YVR).
The Tastes on the Fly management team, led by Executive Chairman and Co-Founder Michael Levine, CEO Edie Ames, and CFO Luke Torres, will remain at the helm of the company, facilitating its successful integration.
“We are thrilled to be adding the diversified portfolio of Tastes on the Fly to our existing F&B operations in North America,” said Gregg Paradies, president and CEO of Paradies Lagardère. “The founders’ unwavering focus on delivering airport passengers a high-quality food offering representing the best of the local dining scene reflects Paradies Lagardère’s commitments and values. This acquisition will accelerate our growth and enable us to achieve our goal of becoming one of the largest and best airport restaurant operators in North America.”
Levine said he is excited to embark on new opportunities with the Paradies Lagardère team. “We are delighted to be joining forces with the Paradies Lagardère team,” he said. “I personally have known Gregg since we got started in the airport F&B world over 20 years ago and have always admired his company’s commitment to delivering outstanding passenger service on all levels, which matches Tastes on the Fly’s guest-first culture and DNA.
After completion of the transaction, Paradies Lagardère said it will become the second-largest operator in the North American airport travel retail and restaurant industry with operations in more than 90 airports and overall annual sales exceeding $1.5 billion.
The combined brand portfolio will encompass more than 100 brand partners and proprietary concepts ranging from full service to fast casual and quick serve. The portfolio represents a vast array of brands, including Starbucks, Chick-fil-A, P.F. Chang’s, Vino Volo, Beercode, Berkshire Farms Market, Mercantile Provisions, Napa Farms Market, Bobby Van’s Steakhouse, San Francisco Giants Clubhouse, and more.
