Compass buys Australia's Life's A Party Group

01 December 2010 by
Compass buys Australia's Life's A Party Group

Compass Group has snapped up another business, with the Aus$22.5m (£14.1m) purchase of food service operator Life's A Party Group (LAPG) in Victoria, Australia.

LAPG, which operates in the education and leisure sectors, has been acquired from various family trusts of the company's directors.

In a trading statement, Compass said: "LAPG provides an excellent opportunity for Compass Group Australia to expand its existing presence in these two important segments of the market."

Last year it became clear that Compass was sitting pretty on a cash pot of around £600m, which prompted speculation that the global catering giant would embark on an acquisition spree.

This has been confirmed by the company's actions - LAPG is the fifth business to be bought in the past seven months - and in the Group's annual results last week, chief executive Richard Cousins said that Compass would use its cash-flow to make infill acquisitions and to reward its shareholders.

So far this year it has bought French food service business Caterine Restauration, Indian caterer Tirumala Hospitality Services, security firm VSG Services and Danish food service firm IDA.

Compass Group's operating profit remains flat >>

Compass acquires IDA Service for £17m >>

Compass to buy security firm VSG Group >>

Compass buys Indian caterer Tirumala Hospitality Services >>

Ian Sarson outlines a new direction for Compass >>

By Janie Stamford

E-mail your comments to Janie Stamford here.

If you have something to say on this story or anything else join the debate at Table Talk - Caterer's new networking forum. Go to jobs

Looking for a new job? Find your next job here with jobs

[Newsletters For the latest hospitality news, sign up for our e-mail newsletters.
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media Group is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.


Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking