Compass Group continues international spending spree
Compass Group has strengthened its position as the world's largest foodservice company with acquisitions in three international markets.
The caterer, which generated annual revenues in excess of £14.8b in the 12 months to 30 September 2010, has taken over operations in Germany, Japan and Spain, taking the number of businesses bought by the global firm to eight in as many months.
Menke Menue, based in Bremen, Germany, was acquired by Compass Group (Deutschland) for €4.8m (£4m) from Frank Menke, Monika Menke, Sinnikka Menke and Alix-Anik Detmer using existing cash resources.
Made up of three businesses, Küchenbetrieb Menke, Menke Cateringkonzepte and Menü-Dienst Nolting, it is an established food service business operating in the education and healthcare sectors.
Compass Group has bolstered its market share in Japan by buying 90% of the shares of Chiyoda Food, comprising Chiyoda Kyushoku Services and Marunouchi Polestar. Its gross assets are 470m JPY (£3.6m).
Chiyoda Food has been acquired by Seiyo Food - Compass Group (Japan) from Nippon Yusen Kabushiki Kaisha who will retain a 10% shareholding.
Compass Group continues its acquisition run with the takeover of Spanish caterer Sabora.
The Catalan firm, which specialises in education catering, was bought for an undisclosed sum. It also operates in the B&I, healthcare and leisure sectors.
Alfredo Ruiz Plaza, managing director for Compass Group Spain, said the country is a key market for the multinational company and that this acquisition is in line with its strategy to strengthen its presence in the Spanish market where it currently employs 11,730 people.
Compass bought Australia's Life's A Party group last month and prior to that it snapped up French food service business Caterine Restauration, Indian caterer Tirumala Hospitality Services, security firm VSG Services and Danish food service firm IDA.
Compass buys Australia's Life's A Party Group >>
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
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