AURELIUS Group takes full ownership of the LSG Group
In a November 1 press release, LSG Group announced the conclusion of its sale from the Lufthansa Group to the AURELIUS Group. The transaction's closing comes with the news that the brand is retaining its name (including the expert brands LSG Sky Chefs and Retail inMotion) and has become a stand-alone company.
Longtime CEO Erdmann Rauer and new CFO Karin Sonnenmoser have put the LSG Group on track to continue pursuing its three-pillar strategy, the press release said. The strategy calls for growth in the main areas of the business: classic airline catering, onboard retail and food commerce. These endeavours now come with the full support and backing of the private equity group, AURELIUS.
The company said in its statement that the change in ownership is a symbolic new beginning for the LSG Group after more than five decades as part of the Lufthansa Group.
“Today, our company starts a new chapter in its long history, and we are excited about the unlimited possibilities ahead,” said Erdmann Rauer. “We do wish to thank the leadership of Lufthansa for their many years of steady stewardship as the LSG Group evolved, adapted and grew stronger as an industry leader. Especially during the years of the pandemic, the LSG Group reasserted its value and resiliency as a service provider to the airline industry and beyond. We are proud to have been part of the Lufthansa Group, but [we] are now ready and eager to embark on a new journey. Thank you also, of course, to the AURELIUS Group for believing in our potential and their willingness to invest in our future.”
CFO Karin Sonnenmoser, who joined the company on November 1, brings to the company extensive experience from her past roles at the Volkswagen Automotive Group, Zumtobel Lighting Group and electronics retailer Ceconomy. According to the press release, she also has a background in procurement and as a supervisory board member in different industries.
In its press release, the LSG Group said its focus going forward will be “on continuity in creating value for its customers and new shareholders while exploring new opportunities as it seeks to expand its market leadership.”