Belgian retailer GIB is selling its self-service restaurant chain Lunch Garden and sandwich bar subsidiary Crock’In to compatriot catering and hospitality group Carestel.

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The two units posted sales of €115.1m (US$113.6m) in 2001 and operating profits worth €2.6m. Together they employ more than 1,600 staff.


GIB said the deal would have “a net positive impact of €16.2m on GIB Group’s consolidated profit. The transaction is part of GIB’s decision to liquidate the company, announced last April. GIB sold its supermarket division GB to Carrefour two years ago, and has since then been gradually divesting its remaining operating divisions. The principle operations it still owns are a 57.9% stake in the struggling fastfood chain Quick, and a 50% stake in the sports shop Disport.

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