Compass arm in multimillion-pound deal at Bank of England

13 December 2007 by
Compass arm in multimillion-pound deal at Bank of England

Compass Group‘s fine-dining arm Restaurant Associates (RA) will be feeding Bank of England governor Mervyn King after landing a multimillion-pound catering contract at the institution, Caterer can reveal.

RA beat a host of competitors to seal the deal to run staff feeding, deli and coffee bars, vending and hospitality at the Bank of England estate.

This includes the bank's headquarters in Threadneedle Street in the City, the printing works in Loughton, Essex, and a social club in Roehampton. It also covers the Parlours, a series of restricted-access rooms within the bank where King and his fellow executives take crucial decisions about the UK economy, and dine.

Threadneedle Street and the printing works were previously run by Elior, while Searcy handled the catering at Roehampton.

Although no official contract value was revealed, it is believed annual turnover is upwards of £3m, with the contract for three years with an opportunity to extend.

The positive news was tempered, however, as RA lost the catering deal at advertising agency JWT - which counts Ford, Vodafone and HSBC among its clients - to former Caterer Adopted Business Harbour & Jones.

The boutique caterer will provide hospitality services and staff feeding and run a licensed bar as well as holding events on JWT's roof garden at its London office in Knightsbridge. It will commence the £1m annual turnover contract in February, initially for three years with the possibility of an extension.

Patrick Harbour, co-founder of Harbour & Jones, said: "We're very excited, as there's scope to make a big impact here, as what had been left was rather fallow fields."

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By Chris Druce

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