Lagardère Group’s Paradies Lagardère has acquired Tastes on the Fly from HIG Capital, making the French stock exchange-listed company become the second largest travel retail and foodservice player in North America.

The acquisition is expected to generate a revenue of $180 million in FY23 and forms part of the company’s plan to grow its foodservice expertise and consolidate its leadership position.

Tastes on the Fly currently operates restaurants and food and beverage concepts across 25 locations at the San Francisco, Boston Logan, Denver, New York JFK, and Vancouver airports.

“HIG’s support and expertise were instrumental in helping not only to successfully navigate through the Covid-19 pandemic, but expand the company’s footprint and offerings while achieving record levels of performance and scale,” said Tastes on the Fly CEO Edie Ames.

“HIG has been a tremendous partner to Tastes on the Fly, helping us execute on our shared growth vision despite an incredibly turbulent time in the air travel industry,” said Tastes on the Fly executive chairman and co-founder Michael Levine.

The companies did not disclose the terms of the transaction.