Switzerland-based food manufacturer Orior is set to buy a 35% stake in Germany-based travel catering specialist Casualfood.
Casualfood operates small-scale food islands, mobile carts and brand concepts that offer prepared to-go food such as sandwiches, salads, muesli and smoothies for travellers.
The travel catering company currently operates 58 food islands, with the majority at airports.
This deal allows Orior to enter the foodservice to-go market, as well as strengthen its foodservice competencies and create new business opportunities.
As part of the agreement, Orior will have the opportunity to completely acquire the Casualfood business by increasing its interest in several stages over the next few years.
Orior will finance the deal with freely available cash and existing lines of credit. It will also hold a majority interest in Casualfood.
Following the transaction, Casualfood will operate as an independent business by joining the Orior international segment.
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