Deutsche Lufthansa is selling Chef Solutions, a US maker of ready meals that is part of its catering business, to US financial investor Questor Partners Fund II, the German airline said on Thursday.
Chef Solutions, whose clients are retail and food companies, not airlines, has around 460 million euros ($557 million) in annual sales and employs 2,600 staff in North America.
Lufthansa said it would not disclose further details of the deal, which requires approval from Lufthansa's supervisory board and US antitrust authorities.
Lufthansa put the unit up for sale as part of the restructuring of its loss-making catering division LSG Sky Chefs. It has said it will part with units that are not focused on airline catering.
"The Lufthansa Executive Board is pressing firmly ahead with the rehabilitation of unprofitable Group businesses," Lufthansa said in a statement.