Michelin pursues its growth strategy in the lifestyle and venue guide segment
Michelin is acquiring all outstanding shares in Le Fooding® three years after the two companies first began collaborating. The deal is the culmination of an agreement signed with the co-founders of Le Fooding® in 2017 – after Michelin acquired a 40% stake in its share capital – providing for Michelin’s future acquisition of the remaining interest.
With this transaction, Michelin is pursuing its growth strategy in the lifestyle segment, following its 2018 acquisition of Tablet, a boutique and luxury hotel selection specialist, and its 2019 acquisition of Robert Parker Wine Advocate (RPWA), the leading international guide to fine wine.
“Le Fooding® will be celebrating its 20th anniversary in just a few days,” said Manuel Fafian, who is Director of Business Experiences at Michelin. “It’s a brand brimming with inspiration and innovative spirit and is now well-anchored in the French media landscape. Its co-founders Alexandre Cammas and Marine Bidaud, whose initiative, energy and talent I admire, have turned it into a key player in France’s restaurant, accommodation and bar guide segment, where we are determined to continue investing and developing. With Le Fooding, we are rounding out our portfolio of dining and hotel recommendations for travelers and food lovers across the country.”
Michelin will continue to develop Le Fooding® in line with its founding ethos, with a focus on advancing the digital transformation and strengthening the magazine side of the business. The entity will keep its name, its editorial independence and its own set of venue selections. Alexandre Cammas will be stepping down as Chairman to become Editorial Director of Le Fooding®. A new governance system will be announced in the coming weeks.
Le Fooding® currently brings together a community of more than six million readers and some 400,000 online followers, with a curated selection of over a thousand restaurants and hotels.