Acquisition

RNS Number : 6021R

Compass Group PLC

25 August 2010

 



COMPASS GROUP PLC ACQUIRES VSG GROUP LIMITED

We are pleased to announce today that Compass Group has agreed to acquire VSG Group Limited ("VSG"), one of the UK's leading security services providers, from Lloyds Development Capital and management for a cash consideration of £64 million on a debt free basis.  VSG had revenues for the year ended 31 March 2010 of £121.3 million.

VSG provides security services to a range of blue-chip clients across the UK.  It offers total security solutions, with award-winning expertise in manned security, electronic security and remote monitoring. Operating across 1,200 client sites with 6,000 employees, it is the fifth largest security provider in the UK by revenues, with headquarters in Northampton.

Richard Cousins, Compass Group CEO, said: "We are delighted with the acquisition of VSG which further strengthens our support services offer in the UK."

Completion is subject to customary conditions, including Irish competition clearance. Completion is expected to occur by the end of September 2010.

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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 £13 billion in the year to 30 September 2009. 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                               Sarah John / Kate Messum                                      [phone]

Media                                                    Finsbury: Clare Hunt                                                 [phone]

Website:                                             www.compass-group.com

 

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