Compass Group loses contract with Goldman Sachs

22 August 2008
Compass Group loses contract with Goldman Sachs

Compass Group, the world's largest caterer, has lost a prestigious contract with Goldman Sachs, worth an estimated value of up to £10m annual turnover.

The Goldman contract, run by Compass's fine-dining business Restaurant Associates, is believed to have been won by rival caterer Aramark.

The contract includes catering for staff and executives, hospitality and management of conference and training facilities at the investment bank's London sites, which house more than 5,000 staff.

Goldman declined to comment, while Aramark was not immediately available for comment.

However, the loss of Goldman contract was tempered by the announcement that Restaurant Associates, has won new contracts worth more than £6m with companies including drug maker GlaxoSmithKline and Virgin Holdings.

RA, which also supplies conferencing and meeting room services, has won a new contract worth £3m per year with GlaxoSmithKline and a contract with Mercure Hotel in Gatwick worth £1.9m per year.

The division has also won two contracts with airport lounges at Gatwick — a £750,000 contract with Virgin Holdings, which runs the "V Room" lounge, and a £500,000 contract with Malaysia Airlines.

RA said the latest contracts mean it has won more than £20m in new business over the past year.

Under the terms of the GSK contract, RA will run employee dining and hospitality services at eight GSK Research and Development sites in London and refurbish other sites.

In May RA teamed up with Gordon Ramsay. The partnership will see Gordon Ramsay Holdings chefs Jason Atherton and Angela Hartnett introduce their menus into RA's hospitality business.

Compass Group reports strong results >>

Compass Group renews multimillion-pound deal with Abbey >>

Aramark to fly into Heathrow as annual HQ costs top £1m? >>

BaxterStorey wins Virgin Atlantic deal from Compass Group >>

Aramark takes £15m-a-year BBC deal off Compass >>

By Nick Huber

E-mail your comments to Nick Huber here.

The Caterer Blog]( Catch up with more news and gossip on the Caterer Blog here
[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