Accor Sells Compagnie des Wagons- Lits’s Onboard Rail Catering Operations to Newrest
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Accor Sells Compagnie des Wagons- Lits’s Onboard Rail Catering Operations to Newrest
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Category: Europe - Industry economy
- Group or hotel buyout
This is a press release selected by our editorial committee and published online for free on 2010-07-07
Accor has sold Compagnie des Wagons-Lits’s onboard rail catering operations in France, Italy, Austria and Portugal to Newrest through a joint venture owned 60% by Newrest and 40% by Accor. Newrest and Compagnie des Wagons-Lits have pooled their expertise to grow their businesses by leveraging their strategically related capabilities in onboard rail catering and facilities management.
For Newrest, which is present in inflight catering, retail dining solutions and remote site management, the joint venture represents an outstanding opportunity to expand in the onboard rail catering market and to enter new countries, including Austria and Italy.
As part of Newrest, Compagnie des Wagons-Lits’s onboard rail catering business will be better equipped to win new contracts and position itself as a leader in railway foodservices.
Creation of the joint venture is aligned with Accor’s strategy of refocusing on its core business. It has enabled the Group to gradually withdraw from onboard rail catering, with an option to sell the entire business as from 2013. At the same time, it gives Compagnie des Wagons-Lits’s onboard rail catering operations new expansion opportunities alongside a solid partner, recognized in its businesses and enjoying extensive capacity for growth.
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