LSG Sky Chefs takes stake in Japan’s Cosmo Catering
LSG Sky Chefs announced today an agreement to acquire 20% of the shares in Cosmo Enterprise Co., a caterer at Narita and Haneda Airports in Tokyo.
LSG Sky Chefs will purchase the shares from Japan Airport Terminal Co.,Ltd., which will remain as the 80% shareholder.
Cosmo was established in 1952. LSG Sky Chefs has provided consultancy services to Cosmo for the past two years through a technical assistance agreement. With a total workforce of 440 employees, the two catering facilities have the capacity to prepare 23,000 meals per day. Customers include American Airlines, British Airways, Cathay Pacific, China Airlines, Emirates, Qatar, Singapore Airlines and Virgin Atlantic.
NRT and HND are the busiest airports in Japan and key international hubs, making Tokyo the largest catering market in Asia/Pacific. In 2013, both airports handled nearly 39 million passengers departing on international and long-haul flights, and more than 66 million passengers on domestic and short-haul routes. As the Japanese economy recovers and the number of visitors from China and Southeast Asia continues to rise, air traffic in Tokyo is expected to grow significantly, said LSG Sky Chefs.
“The market entry in Japan is an important strategic move for LSG Sky Chefs,” said HK Cheung, LSG Sky Chefs’ Regional Chief Operating Officer Asia/Pacific. “This new partnership combines the know-how of a long-established and respected Japanese service provider with our internationally recognized reputation for quality and our track-record in efficiently managing operational processes according to changing market needs.”