China’s HNA Group Co Ltd has agreed to buy Swissairline catering firm Gategroup Holdings for $1.5 billion in cash, as the aviation and shipping conglomerate steps up its global expansion.
The deal adds to a string of overseas acquisitions for privately owned HNA, which include plans announced in February to buy U.S-listed electronics distributor Ingram Micro for $6 billion and the $2.5 billion purchase of Irish aircraft lessor Avolon Holdings Ltd last year.
