The airline catering industry in the U.S. manages the intricate task of supplying food and beverage services to airlines. Companies range from large, established firms to smaller specialized caterers focused on menu innovations and customer service. This sector is experiencing a shift towards sustainability, with a growing emphasis on organic ingredients and eco-friendly packaging. Technology is also on the rise, with digital solutions enhancing efficiency in logistics and passenger experience. As air travel rebounds, competition is intensifying, driving more creativity in offerings as airlines seek to elevate their in-flight dining to attract passengers.


In the U.S., a mix of venture capital firms, private equity, and corporate investors dominate the airline catering scene. Based mainly in major cities like New York and Boston, these investors vary in size, from large entities with thousands of employees to smaller firms with focused teams. Founded between the late 20th and early 21st centuries, these companies made significant moves in 2024, with investors like FJ Labs participating in 169 deals, reflecting a trend of active engagement in sectors closely connected to airline catering.


Top 13 Airline Catering Investors in the US


1. FJ Labs

  • Website: fjlabs.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 169
  • LinkedIn: fj-labs

FJ Labs is a venture capital firm based in New York, specializing in investing in marketplace and network effect businesses. Founded in 2015, the firm has made over 1,000 investments, with many companies achieving unicorn status. In 2024 alone, FJ Labs has participated in 169 investments, showcasing their active role in the venture capital landscape. Notably, they have invested in Fairlyne, a Resale-as-a-Service platform for the travel industry, which raised $3 million in seed funding with FJ Labs as a participant. This investment highlights their engagement in the travel sector, which is closely related to airline catering. Additionally, their involvement with FlyFlat, a company that raised funds in the travel space, further emphasizes their interest in travel-related startups. While their primary focus is not specifically on airline catering, their investments in travel-related companies suggest a potential alignment with the industry.


2. Plug and Play Tech Center


Plug and Play Tech Center is an innovation hub and venture capital firm based in Sunnyvale, California, founded in 2006. They connect startups with corporations to foster growth and innovation, offering various programs including accelerator initiatives and investment opportunities primarily in the technology sector. Notably, they have participated in funding rounds for companies relevant to the airline industry, such as LoungeBuddy, which raised $3 million in Series A funding, and FLYR, a data science company that focuses on fare prediction and booking optimization solutions. Their involvement in these transactions highlights their interest in enhancing travel experiences and operational efficiencies within the airline sector, which aligns with the broader context of airline catering.


3. Lineage

  • Website: onelineage.com
  • Type: Corporate
  • Headquarters: Novi, Michigan, United States (USA)
  • Founded year: 2012
  • Headcount: 10001+
  • Number of deals in 2024: 4
  • LinkedIn: lineage-logistics

Lineage, Inc. is a logistics company based in Novi, Michigan, specializing in temperature-controlled warehousing and supply chain solutions. Founded in 2012, Lineage has rapidly expanded its operations globally, providing a wide range of services including cold storage, transportation, and food processing support, primarily serving businesses in the food industry. In recent years, Lineage has made significant acquisitions to enhance its capabilities, including the acquisition of Frigocare Rotterdam and Van Tuyl Logistics in 2022, which bolstered their logistics capacity in the Netherlands. Additionally, their acquisition of Cold Storage Nelson in New Zealand and Emergent Cold for $900 million further expanded their footprint in the Asia-Pacific region. These transactions highlight Lineage's commitment to strengthening its cold chain logistics, which is essential for sectors like airline catering that rely on the timely and safe delivery of perishable goods.


4. The Middleby Corporation

  • Website: middleby.com
  • Type: Corporate
  • Headquarters: Elgin, Illinois, United States (USA)
  • Founded year: 1888
  • Headcount: 5001-10000
  • Number of deals in 2024: 5
  • LinkedIn: middleby-corporation

The Middleby Corporation, founded in 1888 and based in Elgin, Illinois, is a leading manufacturer specializing in commercial and residential cooking and industrial process equipment. They focus on providing innovative solutions for foodservice operators and consumers, enhancing efficiency and quality in food preparation. Their diverse product range serves various sectors, including restaurants and residential markets, with a commitment to advanced technology and customer engagement. Notably, Middleby has made several strategic acquisitions that bolster their position in the foodservice equipment industry, such as the acquisition of Carter-Hoffmann, which enhances their portfolio in heating and holding equipment, crucial for airline catering. Additionally, their acquisition of Globe Food Equipment further strengthens their capabilities in providing essential equipment for foodservice operations. These transactions highlight Middleby's commitment to expanding their influence in sectors that intersect with airline catering, making them a relevant player in this industry.


5. Kkr

  • Website: kkr.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1976
  • Headcount: 1001-5000
  • Number of deals in 2024: 74
  • LinkedIn: kkr

KKR & Co. Inc. is a prominent investment firm based in New York, specializing in private equity, credit, infrastructure, and real estate. Founded in 1976, KKR has built a global presence, providing asset management solutions to institutional investors and individual clients. The firm has been actively involved in the aviation sector, with notable transactions including a $1 billion investment in Altavair AirFinance, which focuses on acquiring cargo aircraft for long-term leasing to airlines. KKR also acquired an aviation loan portfolio from CIT Group for nearly $800 million, which includes loans for commercial aircraft, indicating their commitment to the aviation financing market. Additionally, KKR's structured debt financing of $22 million to Air Works India Engineering, which acquired a private aviation specialist, showcases their involvement in the broader aviation ecosystem. These transactions highlight KKR's strategic interest in the airline industry, making them a noteworthy player in the context of airline catering investments.


6. The Carlyle Group

  • Website: carlyle.com
  • Type: Private Equity
  • Headquarters: Washington, D.C., District Of Columbia, United States (USA)
  • Founded year: 1987
  • Headcount: 1001-5000
  • Number of deals in 2024: 25
  • LinkedIn: the-carlyle-group

The Carlyle Group Inc. is a prominent investment management firm founded in 1987, specializing in private equity, real assets, and private credit. With a global presence and a focus on providing tailored investment solutions to institutional investors, Carlyle aims to drive long-term value. Notably, Carlyle has made significant investments in the travel and aviation sectors, including a controlling stake in CVC Brasil Operadora e Agência de Viagens S.A., the largest travel operator in Latin America, and Carlyle Aviation Partners, which focuses on aviation assets. Their investment in the Nordam Group, an aerospace repair and manufacturing company, further highlights their engagement in the aviation industry. While they do not have direct investments in airline catering, their activities in related sectors suggest a potential interest in this area.


7. Apollo Global Management, Inc.

  • Website: apollo.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1990
  • Headcount: 1001-5000
  • Number of deals in 2024: 46
  • LinkedIn: apollo-global-management-inc

Apollo Global Management, Inc. is an asset management firm specializing in alternative assets and retirement solutions. Founded in 1990 and based in New York, the firm manages a diverse portfolio across credit, private equity, and real assets, serving institutional investors, corporations, and individual clients. Recently, Apollo has made significant moves in the airline and aviation sectors, including the acquisition of Atlas Air Worldwide, a major player in air cargo, and Modern Aviation, a fixed-base operator with multiple locations in the USA. Additionally, their acquisition of The Restaurant Group, which operates in the hospitality sector, may also intersect with airline catering services, as they provide food and beverage services in various venues. These transactions highlight Apollo's strategic interest in sectors that support the airline industry, making them a noteworthy investor in the airline catering context.


8. General Atlantic

  • Website: generalatlantic.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1980
  • Headcount: 501-1000
  • Number of deals in 2024: 32
  • LinkedIn: general-atlantic

General Atlantic is a private equity firm based in New York, specializing in growth equity investments. Founded in 1980, the firm provides capital and strategic support to entrepreneurs and growth companies across various sectors, including technology and healthcare. Notably, General Atlantic has made significant investments in the travel sector, including a majority stake acquisition in Kiwi.com for approximately $125 million in 2019. This investment aims to support Kiwi.com's expansion into a broader range of travel services, which may encompass airline catering. Additionally, General Atlantic's recent strategic growth investment in Plusgrade, a company that enhances airline revenue through ancillary services, further demonstrates its engagement in the airline industry. These transactions highlight General Atlantic's capability to influence and support growth in sectors related to airline operations, including catering services.


9. Bain Capital

  • Website: baincapital.com
  • Type: Venture Capital
  • Headquarters: Boston, Massachusetts, United States (USA)
  • Founded year: 1984
  • Headcount: 1001-5000
  • Number of deals in 2024: 19
  • LinkedIn: bain-capital

Bain Capital, LP is a leading private investment firm based in Boston, Massachusetts, specializing in various asset classes including private equity, venture capital, credit, and real estate. Founded in 1984, the firm has a global presence and focuses on providing strategic resources and capital to businesses across multiple industries. Notably, Bain Capital has made significant investments in the airline catering context, including a $250 million minority investment in Cuisine Solutions, a US supplier of sous-vide products, aimed at enhancing product innovation and expanding its market reach. Additionally, Bain Capital's acquisition of Virgin Australia for $3.5 billion highlights its commitment to the airline industry, which may influence catering services within the airline. Furthermore, their acquisition of Jamco, a Japanese aircraft interior maker, for $634 million, indicates their involvement in sectors that intersect with airline operations, including catering. These transactions reflect Bain Capital's strategic approach to investing in businesses that support and enhance the airline and catering industries.


10. Advent


Advent International Corporation is a private equity firm based in Boston, Massachusetts, founded in 1984. The firm specializes in buyouts and investments across various sectors, focusing on long-term value creation for its portfolio companies. Advent has been involved in several significant transactions relevant to the airline catering context, including the acquisition of Hudson Group in 2013, which operates in travel retail and food services, and the acquisition of Elior France in 1997, a company known for its catering services. These transactions highlight Advent's strategic interest in sectors that intersect with airline catering, showcasing their capability to provide capital and guidance to companies in this industry.


11. Valor Equity Partners

  • Website: valorep.com
  • Type: Venture Capital
  • Headquarters: Chicago, Illinois, United States (USA)
  • Founded year: 2001
  • Headcount: 51-200
  • Number of deals in 2024: 23
  • LinkedIn: valor-equity-partners

Valor Equity Partners is a private investment firm based in Chicago, Illinois, specializing in operational growth and technology-enabled companies. Founded in 2001, the firm partners with entrepreneurs to address challenges across various sectors, including biosciences and transportation. They provide investment and consulting services aimed at fostering innovation and efficiency. Notably, Valor has been active in the food service sector, with investments in companies like Roti Modern Mediterranean, which secured $23 million for national expansion and technology advancement, and Fooda, a food delivery startup that raised $12.5 million to support menu expansion and market growth. These transactions highlight Valor's engagement in the food industry, which is closely related to airline catering, suggesting they may have relevant insights and capabilities for potential investments in that area.


12. Boeing

  • Website: boeing.com
  • Type: Corporate
  • Headquarters: Arlington, Virginia, United States (USA)
  • Founded year: 2002
  • Headcount: 10001+
  • Number of deals in 2024: 7
  • LinkedIn: boeing

The Boeing Company, founded in 2002 and headquartered in Arlington, Virginia, is a leading aerospace manufacturer known for designing, manufacturing, and selling a wide range of products, including airplanes and rotorcraft. Boeing serves commercial airlines, government agencies, and military organizations, providing innovative solutions for safe and efficient air travel. In recent years, Boeing has made strategic investments that align with the airline catering industry. Notably, Boeing's venture arm, Boeing HorizonX, invested in Immfly, a company focused on enhancing in-flight digital capabilities for airlines, which directly impacts the catering experience by improving passenger engagement and service delivery. Additionally, Boeing's acquisition of EnCore Group, which supplies products and components for cabin interiors, further emphasizes its commitment to enhancing the passenger experience, including catering services. These transactions highlight Boeing's active role in the airline catering ecosystem, making it a significant player in this sector.


13. Morgan Stanley

  • Website: morganstanley.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1986
  • Headcount: 10001+
  • Number of deals in 2024: 79
  • LinkedIn: morgan-stanley

Morgan Stanley is a prominent investment bank and financial services firm founded in 1986, headquartered in New York, New York. The firm offers a wide range of services, including wealth management, investment banking, and capital markets, catering to individuals, families, corporations, and governments. With a global presence and a strong focus on tailored financial solutions, Morgan Stanley has made significant investments across various sectors. Notably, they have invested in Avelo Airlines, contributing $30 million in Series B funding and previously $125 million in Series A funding, making them the largest shareholder in the airline. This involvement highlights their interest in the airline industry, which is closely linked to airline catering services, as they support the operational and growth needs of airlines.



Airline Catering Insights: Key Investors in the US


InvestorHeadquarterSizeFoundedDeals 2024
FJ LabsNew York, New York, United States (USA)11-502015169
Plug and Play Tech CenterSunnyvale, California, United States (USA)501-10002006253
LineageNovi, Michigan, United States (USA)10001+20124
The Middleby CorporationElgin, Illinois, United States (USA)5001-1000018885
KkrNew York, New York, United States (USA)1001-5000197674
The Carlyle GroupWashington, D.C., District Of Columbia, United States (USA)1001-5000198725
Apollo Global Management, Inc.New York, New York, United States (USA)1001-5000199046
General AtlanticNew York, New York, United States (USA)501-1000198032
Bain CapitalBoston, Massachusetts, United States (USA)1001-5000198419
AdventBoston, Massachusetts, United States (USA)501-1000198417
Valor Equity PartnersChicago, Illinois, United States (USA)51-200200123
BoeingArlington, Virginia, United States (USA)10001+20027
Morgan StanleyNew York, New York, United States (USA)10001+198679


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