FRANCE - AXA PE acquires minority stake in Newrest
AXA Private Equity has backed the management buyout of catering company Newrest, acquiring a minority 23% stake in the business.
Having purchased a majority stake in the company from Compass in 2005, Newrest employees will continue to hold a majority interest in the firm, increasing their holding from 61% to 68%.
Toulouse-based Newrest focuses on providing a range of food services to airlines based in both Spain and France. The company, which has offices in 32 difference countries, generated a turnover of EUR 408m and has 12,200 employees.
Newrest was founded by Olivier Sadran in 1995.
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