Gardner Merchant buys Telcat
Gardner Merchant last week announced the acquisition of German contract caterer Telcat, in the same week it revealed a 13.7% rise in pre-tax profits to £26.9m for the half-year to 31 July.
The acquisition, which is to be completed at the end of the month, adds about 30 contracts in the Hannover area to the 70 already held in Germany by Gardner Merchant.
It is the company's second German acquisition this year, following on from that of Kielholz Catering in February.
The 13.7% increase in pre-tax profits came on a rise in turnover of 9.1% to £555.7m. Gardner Merchant said it had achieved a record sale of new contracts, with a net gain of 175 contracts around the world, exclusive of its acquisitions of Kielholz and outside caterer Gilmour & Pether in the UK.
The $100m (£65m) acquisition of Morrisons in the USA, which took place after the end of the half-year, has taken Gardner Merchant into the top five foodservice operators in that country, chief executive Garry Hawkes said last week.
