Compass Group PLC
22 March 2000
COMPASS GROUP PLC
Compass Group Strengthens Presence in Italy
Compass Group PLC is delighted to announce the completion of the acquisition
of the foodservice businesses of My Lunch SPA and its subsidiary Rial in Italy
- more than doubling its existing presence in the significant Italian
foodservice market.
My Lunch and Rial focus primarily on foodservice for business and industry
clients including 12 sites for Fiat alone. This will complement existing
business for the group in the sector as well as for clients in military,
healthcare, education and concession sectors.
The consideration payable by Compass Group is £10.6 million (33bn lira),
payable in cash.
Philippe Adam, Chief Executive, Compass Group, Western Europe Division, said,
'Italy is the fourth largest foodservice market in Europe so we have always
seen the development of a strong presence there as a strategic priority. With
My Lunch and Rial we are now in the top ten within the Italian market,
providing an excellent basis for strong future organic growth there, under the
management of Paolo Gaudimondo.'
For further information contact:
Nick Lyon
Hudson Sandler +44 (0) 171 796 4133
Cathi Lawrence
Corporate Communications Director
Compass Group PLC +44 (0) 1932 573000
Compass Group is the largest foodservice group in the world, with over 190,000
employees providing catering for clients including major employers,
educational establishments, hospitals, leisure venues, retail locations and at
major airports and stations throughout USA, Europe, Scandinavia and developing
markets in Asia and South America. It operates through sector-specific
subsidiaries such as Eurest, the world's largest specialist in providing
foodservice to business and industry clients. The Group has increased
turnover to over £4.8bn and now operates in over 70 countries world-wide.
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