Summit denies takeover rumours

CHRIS Richards, managing director of Summit Catering, moved fast last week to halt mounting speculation that the company is about to be taken over by one of the major contract caterers.

Confirming that several offers had been made over the last month, Richards said that there would be no sale.

"We're fiercely independent and not for sale at any price," he said.

He added that the company is seeking to acquire another contract caterer this year, possibly one of an equal size to Summit. Investment of around £1m in a property in Twickenham last year, he said, indicated the company's resolve to remain independent.

Summit's turnover last year was £12.3m. Based on additional contracts won this year, Richards forecasts an increase to £20m this year.

Granada Food Services, one of the companies understood to be interested in acquiring Summit, declined to comment.