ISS to sell inflight catering business to Newrest Group

14th August 2019 (Last Updated August 14th, 2019 15:32)

Gloabl facility services firm ISS has agreed to sell its inflight catering business, and other cleaning and catering businesses in Israel to two companies.

Global facility services firm ISS has agreed to sell its in-flight catering business, and other cleaning and catering businesses in Israel to two companies.

The company will sell its in-flight catering business to multi-sector catering firm Newrest Group Holding, and its cleaning and catering businesses to a local facility management company T&M Protection Resources Holdings Israel.

The company has made this decision as part of its ongoing strategic divestments programme, and the two transactions are in line with its focus on Key Accounts.

According to ISS, the divested businesses were classified as discontinued operations and generated DKK1.7bn ($254.9m) in revenue during last year.

The transactions are currently subject to normal closing conditions in Israel, including antitrust clearance, and will close later this year.

In April this year, ISS Austria Holding acquired business and workplace catering services firm JH Catering in Austria.

Founded in 1996, Newrest is a French out-of-home food service company that offers a range of catering and related hospitality services such as in-flight, buy on board, duty free, catering and remote site, rail, retail and support services.

The company currently employs 32,000 associates across 49 countries globally.

The T&M Israel Group offers solutions to customers in four domains including security, central monitoring and low-voltage, cleaning and maintenance and outsourcing.