Acquisition

RNS Number : 7602S

Compass Group PLC

25 November 2011

 



Compass Group Agrees to Acquire Supercare in South Africa

We are pleased to announce today that Compass Group, through its subsidiary Compass Group Southern Africa (Proprietary) Ltd ("CGSA"), has agreed to acquire Supercare Services Group (Proprietary) Limited ("Supercare") from, amongst others, management, Zungu Investments (Proprietary) Ltd, Corvest 6 (Proprietary) Ltd and Dickerson Investments (Proprietary) Ltd. For the year to 28 February 2011, Supercare generated revenue of ZAR 710.5m (c.£63.6m) and had gross assets of ZAR 155.3m (c.£12m).

Supercare is one of South Africa's leading cleaning companies, providing a range of specialised services including contract cleaning and washroom hygiene services. It has a high quality client base across South Africa, with c.4,000 contracts in the Business & Industry, Healthcare and Education sectors, and it currently employs c.16,000 people.

This acquisition, which is subject to various conditions including approval from the Competition Commission of South Africa, will expand CGSA's multi-service offer to clients and will give it a strong cross-selling platform.

Andy Furlong, Group Managing Director for the region, said: "We are delighted to have agreed to acquire such a highly respected company as Supercare. It has a reputation for the quality of its services and strong customer relationships with both South African and international clients. This acquisition is in line with Compass Group's ongoing strategy to invest and expand in fast growing markets and we continue to see many exciting opportunities."

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Notes to editors

About the Transaction

The parties to the acquisition of Supercare are as follows: management, Zungu Investments (Proprietary) Ltd, Corvest 6 (Proprietary) Ltd, Dickerson Investments (Proprietary) Ltd, Supercare Management Investments (Proprietary) Limited, the Trustees of the Supercare Management Trust, Supercare, Robert Ian Dickerson, Sandile Zungu and Philip Kruger.

About Compass Group Southern Africa

CGSA has been operating in South Africa since 1997. It is 75% owned by Compass Group PLC and 25% owned by Thebe Investment Corporation (Proprietary) Limited, a Black Economic Empowerment group. CGSA is a leading provider of food and support services across the Business & Industry, Healthcare, Education, Sports & Leisure and Remote sectors. It currently employs around 7,500 people and operates approximately 450 business units across the country.

About Compass Group PLC

Compass Group PLC is a world-leading food and support services company, which generated annual revenues of £15.8 billion in the year to 30 September 2011. It operates in around 50 countries, employs over 470,000 people and serves over 4 billion meals every year. The company specialises in providing food and a range of support services across the core sectors of Business & Industry, Defence, Offshore & Remote Site, Healthcare, Education, Sports & Leisure and Vending with an established brand portfolio.

Enquiries:

Investors/Analysts	Sarah John / Kate Patrick	[phone]
Media	Clare Hunt	[phone]
Website	www.compass-group.com

 

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