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Compass Group Agrees to Acquire CH&CO

Compass Group Agrees to Acquire CH&CO
22 January 2024
 

Compass Group UK & Ireland has proposed to acquire the food business CH&CO.

The deal is for an initial enterprise value of £475 million, with the potential for an additional earn out over two years, dependent on profit figures.

Subject to regulatory approval, Compass Group hopes to acquire CH&CO's portfolio of companies, which include Gather & Gather, Vacherin and Company of Cooks.

CH&CO employs 10,000 members of staff, providing catering services across workplaces, events, venues, visitor attractions, stadia, education, healthcare and hospitality. It has been a Royal Warrant Holder since 2013. 

Robin Mills, CEO, Compass Group UK & Ireland said: “I have always admired CH&CO and its real passion for food. I believe that by combining our strengths the proposed acquisition will bring a multitude of benefits to clients, customers and employees. Together we have the potential to create even more compelling and innovative solutions for our clients and customers, as well as a wider range of career opportunities for our talented people in both organisations.” 

Bill Toner, CEO, CH&CO, added: “We’re delighted that Compass wants to acquire CH&CO. The prospect of joining a leading global provider of food services offers huge potential for us and our clients. Creativity and innovation are skills that we share with Compass and food is at the heart of everything we do.

“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.” 

Picture: a close-up photograph of a person kneading some dough on a floured surface. Image Credit: Unsplash

Article written by Ella Tansley | Published 22 January 2024

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