PAI Partners completed €1.5bn acquisition of Areas.

PAI Partners completed €1.5bn acquisition of Areas, a provider of food and beverage services, from Elior Group, a French multinational commercial catering and foodservice company. “PAI Partners’ project would enable Areas, which is the world’s third-leading concession caterer, to accelerate growth. Following the disposal the Group would focus entirely on its contract catering and services businesses in order to reinforce its leading positions in Europe, and accelerate its development in the United States and India,” Philippe Guillemot, Elior Group Chief Executive Officer.