Compass Group snaps up Kew Gardens catering rival for £475m
Contract caterer Compass Group has entered into a £475m takeover deal of a rival firm, which provides hospitality services for the likes of Kew Gardens and the Royal Opera House.
In an announcement this morning the FTSE 100-listed firm, which did catering for the London Olympics, said it would enter into the agreement to buy CH&CO.
The firm has enjoyed good success since demand for socialising picked up after the pandemic, recently revealing an annual turnover just shy of £2bn.
Dominic Blakemore, group chief executive of Compass Group PLC, said: “CH&CO is a highly regarded food service business in our industry.
“This proposed acquisition combines the best of the two companies: our shared passion for people, great food, and focus on sustainability.
“With CH&CO’s strong brand identity and a broad geographic reach, we would be able to further enhance our customer proposition, helping us capitalise on the significant growth potential in the market.”
Bill Toner, chief of CH&CO, added: “Both businesses have strong and complementary brands, and subject to regulatory approval, there is a great opportunity for us to learn from each other and to build an even more exciting future together.”