Paradies Lagardère parent company Lagardère Travel Retail has closed the acquisition of airport restaurateur Tastes on the Fly. The acquisition aligns with the organization’s ambition to further strengthen its position as a leader of food and beverage operations in the North American airport industry.
“We are very excited to finalize this acquisition and welcome such an impressive organization as Tastes on the Fly to Paradies Lagardère,” said Gregg Paradies, president and CEO of Paradies Lagardère. “Our Dining Division is an incredibly talented and successful team and adding Tastes on the Fly’s outstanding team will further elevate our efforts to deliver the very best restaurant offerings to our airport partners and traveling guests across North America.”
With the completion of this transaction, Paradies Lagardère said it becomes the second-largest operator of airport travel retail and food and beverage in North America with operations in more than 90 airports, and overall annual sales exceeding $1.5 billion. Leveraging the complementary nature of both companies, this transaction will boost Paradies Lagardère’s offerings to more than 100 brand partners and proprietary concepts, ranging from full-service to fast casual and markets, the company said.
The integration of the two foodservice operations will begin immediately, led by Gregg Paradies along with the leadership teams from Tastes on the Fly and Paradies Lagardère.
