Bluspring Enterprises Completes Acquisition of LSG Sky Chefs India to Enter Aviation Catering Sector
Bluspring New Horizon Two Private Limited, a wholly owned subsidiary of Bluspring Enterprises Limited, has entered into an agreement for the acquisition of 100% of the paid-up share capital of LSG Sky Chefs India Private Limited. The transaction was finalized via a Share Purchase Agreement (SPA) executed on April 13, 2026.The acquisition involves Bluspring New Horizon Two Private Limited dealing with Airline Catering and Retail Invest Asia Pacific Limited and Alfred Anton Rigler, who are the sellers. The transaction is structured as a cash consideration payment, subject to customary closing and post-closing adjustments.
This strategic move enables Bluspring Enterprises Limited to enter the aviation catering sector. The acquisition grants the company access to in-flight catering facilities operating at the Bengaluru Airport under the BIAL Agreement until 2039. The business operations of LSG India significantly complement the Company’s existing food services vertical, which is expected to boost margins and support long-term growth and profitability.
Transaction and Acquisition Details
The acquisition focuses specifically on the Bengaluru operations of LSG India. Prior to the completion of the acquisition, the other operations of LSG India are slated to be carved out via an asset transfer.The acquisition is valued based on an enterprise value of INR 129 Crore, with the final purchase price contingent on customary adjustments. Bluspring New Horizon Two Private Limited will acquire 1,09,02,000 equity shares of LSG India, representing 100% of the issued and outstanding share capital.
The proposed completion timeline for the acquisition is set for prior to August 31, 2026.
| Aspect | Detail |
|---|---|
| Target Entity | LSG Sky Chefs India Private Limited (LSG India) |
| Acquisition Scope | 100% of paid-up share capital (focusing on Bengaluru operations) |
| Nature of Consideration | Cash consideration |
| Enterprise Value | INR 129 Crore |
| Shares Acquired | 1,09,02,000 equity shares |
| Target Sector | In-flight catering and allied aviation services |
LSG India Background and Financial Profile
LSG India, incorporated on May 31, 2001, is a prominent provider of in-flight catering and allied aviation services for various domestic and international airlines, including Indigo, Lufthansa, Etihad, and Qatar Airways.The operational details available for LSG India, regarding the business retained after the carveout, include the following key financial metrics:
| Metric | Value | Date/Period |
|---|---|---|
| Approximate Revenue | INR 101 crores | Financial Year ended March 31, 2025 |
| Profit After Taxes | INR 10 crores | Financial Year ended March 31, 2025 |
| Net Worth | INR 75 crores | As at March 31, 2025 |
For the last three financial years, the turnover of LSG India (for the business to be retained) was:
| Financial Year | Turnover (INR) |
|---|---|
| FY25 | 101 Crores |
| FY24 | 64 Crores |
| FY23 | 56 Crores |
The transaction was confirmed to be conducted on an arm's length basis and does not qualify as a related party transaction, as none of the promoters have an interest in LSG India.
BLUSPRING Stock Price Movement
On Monday, Bluspring Enterprises Limited shares edged higher, closing at ₹67.2 after gaining 5.25% for the session. The stock traded on Monday with a total volume of 414,269 shares exchanged.Source:
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