Silverstone Hospitality, headed by Steven Saunders, has signed a six-year contract Silverstone Racing Circuit.
The new deal after Saunders and Sean Valentine, co-founders of Aspire Hospitality, announced last month that they had gone their separate ways in January.
Aspire first won the catering and hospitality contract at Silverstone in 2007, and picked up a nine-year extension in 2011 worth £36m.
Lee Scott, who was previously head chef of the Savoy Grill in London, has come on board as executive head chef.
Saunders, chief executive of Silverstone Hospitality, said: "I am very proud of my team for achieving such an excellent result, especially so soon after taking over as CEO of Silverstone Hospitality in January this year.
"We have an exciting year planned ahead and we will continue to grow and deliver excellence in hospitality both at Silverstone and in motor sport globally."
Since its formation, Silverstone Hospitality has been awarded Hospitality Assured, a quality standard by the Institute of Hospitality for customer facing businesses.
Richard Philips, managing director of Silverstone, welcomed the ongoing relationship with Saunders and his team.
"He has a proven track record in this industry and we are very much in safe hands. We have high demands for quality service and Steven has consistently delivered," he said.
"We are confident he will continue to maintain the highest standards in the industry which is what helps make Silverstone a world class venue."