Compass buys UK's largest vending firm for £84m

23 July 2001
Compass buys UK's largest vending firm for £84m
Contract catering group Compass has bought Vendepac, the UK's largest vending business, for £84m. Vendepac, formerly owned by TM Group Holdings, has annual sales of £58m and a market share of 9% in the UK. It operates more than 28,000 food and drink vending machines. Subject to performance, Compass may pay a further £3m for the business, bringing the total to £87m. The acquisition of Vendepac means that Compass now owns the largest vending companies in the UK, North America (Canteen Vending) and Europe (Selecta). Mike Bailey, chief executive of Compass, said the purchase was an important move for the group. "Our ability to offer clients in North America an integrated food service and vending offer has been a significant factor in our business growth there," he said. Compass is the world's largest contract caterer employing more than 265,00 people in more than 90 countries with annual sales in excess of £8.3b.
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