views

French foray for Compass

COMPASS Group, the world’s biggest caterer, bought French food service business Caterine Restauration for an undisclosed sum yesterday.

The French caterer, which specialises in the provision of services in the education and healthcare sectors, posted revenues of €41.8m (£35.8m) for the 12 months to 31 August 2009 with gross assets valued at €34m (£29m). Compass said the acquisition was key to growing its business in Europe. The acquisition comes one week before the company is due to announce its half year results.

Richard Cousins, Compass Group chief executive, said: “We are delighted with this acquisition. Caterine Restauration provides an excellent opportunity for us to extend our presence in one of our key markets, as well as broadening our capabilities in food services.”

Compass feeds office workers, soldiers and school children and counts Chelsea Football Club, London’s O2 arena, the Bank of England and the US Senate among its clients. The caterer is also keen to expand into areas outside catering.