Aramark reveals details of Campbell deal

Further details have emerged of the joint venture deal between US-owned contract caterer Aramark and Ireland-based Campbell Bewley.

The companies announced the tie-up in November, but would not reveal the terms of the deal.

But in a statement filed with the US Securities and Exchange Commission this week, Aramark said it had acquired the UK catering business of Campbell Bewley by issuing an 8% stake in a subsidiary.

The subsidiary was Aramark Catering, the joint venture company formed by bringing together Aramark UK and Campbell Catering.

Aramark also acquired a 45% stake in Campbell Bewley's contract catering business in Ireland for about $19m (£13m) in cash.

Aramark Corporation also said worldwide sales had increased by 10% to £1.9b (£1.3b) during the first quarter of its 2001 financial year (to the end of December).

Above: Chief executive of Aramark, Bill Toner (left) and chief executive of Campbell Bewley Group, Dan Cronin (right)