H.I.G. Capital announced the sale of its portfolio company, Tastes on the Fly, to Paradies Lagardère, the North American travel retail division of the publicly traded Lagardère Group, on the French stock exchange. The financial advisory role for Tastes on the Fly was undertaken by William Blair & Company, while legal counsel for H.I.G. and Tastes on the Fly in the transaction was provided by Kirkland & Ellis.

Since H.I.G.'s acquisition of Tastes on the Fly in Jul. 2017 in collaboration with its founders, the company has undergone significant strategic initiatives and investments. These efforts led to a doubling of revenue, expansion at existing and new airports, operation of 25 concepts across five airports, optimization of purchasing processes, and improvements in operating efficiencies. However, specific terms of this transaction were not disclosed according to a press release by H.I.G. Capital.

"H.I.G. 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 Michael Levine, Executive Chairman and Co-founder of Tastes on the Fly as per H.I.G Capital's press release.

H.I.G Capital's press release also cited Edie Ames, CEO of Tastes on the Fly saying "H.I.G.’s support and expertise were instrumental in helping not only to successfully navigate through COVID-19 pandemic but also expand Company’s footprint and offerings while achieving record levels of performance and scale."

Elliot Maluth, Managing Director at H.I.G., praised their investment in Tastes on the Fly by stating "When we invested in Tastes on the Fly we were excited to partner with an entrepreneurial organization that elevated airport dining by providing authentic local experiences. We are proud of Company’s achievements and outstanding growth especially during one most challenging times recent air travel industry history", as quoted by a press release from H.I.G. Capital.