Acquisition

RNS Number : 6326E

Compass Group PLC

11 April 2011

 



Compass Group Acquires Vipul Facilities Management and Ultimate Hospitality Services in India

We are pleased to announce today the acquisition of Vipul Facility Management Private Limited ("VFM"') and Ultimate Hospitality Services Private Limited ("UHS").

VFM was acquired from Mr Punit Beriwala and family. VFM, located in Delhi, has a national presence specialising in the provision of support services to the Business and Industry sector. The gross assets of the business acquired were INR 374.2m (£5.2m) as at 31 March 2010 with revenue for the 12 months to 31 March 2010 of INR 710.7m (£10m).

UHS was acquired from Mr Praveen Rao, Mrs G Anitha and Mr Uppala Kantha Rao. UHS is a strong regional player in the foodservice industry in Hyderabad specialising in the provision of food services to the Business and Industry sector. The gross assets of the business acquired were INR 42.1m (£0.6m) as at 31 March 2010 with revenue for the 12 months to 31 March 2010 of INR 167m (£2.3m).

Richard Cousins, Compass Group CEO said: "We are delighted with both the acquisition of VFM and UHS. VFM provides an excellent platform to develop our support services capabilities in the region and enables us to offer an extended range of services to clients. UHS further enhances our existing foodservice offering in India and provides a strong foothold in the Hyderabad region".

- Ends -

Notes to editors:

About Compass Group PLC

Compass Group is the world's leading foodservice company. We specialise in providing food, vending and related services on our clients' premises and we generated annual revenues of over £14.5 billion in the year to 30 September 2010. The company operates across the following core sectors of Business & Industry, Defence, Offshore & Remote Site, Healthcare, Education, Sports & Leisure and Vending with an established brand portfolio. For more information visit www.compass-group.com

Enquiries:

Investors/Analysts & Media                                     Sarah John                      [phone]

Website:                                                                 www.compass-group.com

 

END

 

 

ACQGGUMACUPGURU