Newrest Restauration announces the acquisition of the French catering company ISIDORE RESTAURATION:
• An acquisition that complements Newrest's territorial offer
• Newrest Restauration aims to achieve € 300 million in sales within 5 years
Toulouse, February 11, 2019 – Newrest Restauration, the Newrest Catering subsidiary in France, announces the acquisition of Isidore Restauration, a well-established collective catering company in North West France with a turnover of 25m €. With this acquisition, Newrest Restauration completes the territorial grid strategy that began in 2016 with the acquisition of Apetito (North and Paris region) and Coralys (South East region). Now present throughout the French territory, Newrest Restauration intends to accelerate its commercial development to reach a turnover of 300 million euros within 5 years. On this occasion, the founding family of Isidore Restauration becomes shareholder of Newrest.
Intermediate family business with 307 employees, Isidore Restauration has developed a global know-how in the field of catering and is mainly active in school catering and business catering, but also in retirement homes, hospitals, crèches and recreation centers.
Since 2016, collective catering has become one of the strategic development areas of Newrest in France and has rapidly become the Group’s third growth channel in this area, alongside its other traditional activities such as air catering. and on board trains.
First out-of-home catering group present in all business segments (air catering, on-board catering, life base management, camps, oil rigs and mines, collective catering, concession catering, commercial catering), Newrest is based on the know-how acquired for several years through its catering activities around the world including Tunisia, Morocco, Algeria, Greece, the Middle East (Qatar and Sultanate of Oman) or Peru.
With origins in Group Catair in 1996 and founded by its Co-CEO’s Olivier Sadran and Jonathan Stent-Torriani, 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, contract catering, remote site and support services, rail catering, airport and motorway retail.
With revenues under management of almost 1.9 Billion Euros in 2017-18 and 32,000 employees world-wide in 49 countries, Newrest is also the first largest ‘independent’ airline caterer world-wide.
At year end closing 2018 (September) Newrest is 94,58% management-owned, with its managers holding its capital (340 managers). The remaining capital is held by Private Equity Funds (3,5%) and Private Investors (1,92%).
Newrest is committed to constant improvement and innovation for its clients, the well-being and progress of its employees and managers, a sustainable and durable development of the company, and total respect of social and environmental values in all of its activities.