Compass to Buy CH&CO for Initial Enterprise Value of $600 Million
22 Enero 2024 - 2:19AM
Noticias Dow Jones
By Michael Susin
Compass Group said it has agreed to buy provider of premium
contract and hospitality services CH&CO for an initial
enterprise value of 475 million pounds ($603.4 million) to
complement its footprint in the U.K. and Ireland.
The U.K. catering contractor on Monday said CH&CO currently
generates annual revenue of around GBP450 million and operates
across a range of sectors.
The initial enterprise value will be followed by an additional
earn out over the two years following closing, dependent on the
profit growth of the business.
"With CH&CO's strong brand identity and a broad geographic
reach, we would be able to further enhance our customer
proposition, helping us capitalize on the significant growth
potential in the market," Chief Executive Dominic Blakemore
said.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
January 22, 2024 03:04 ET (08:04 GMT)
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