Compass Group PLC
19 February 2004
19 February 2004
Compass Group acquires US airport concessions business
Compass Group's international concessions business is pleased to announce that
it has reached an agreement to acquire California-based Creative Host Services,
Inc. for a total consideration of £22.5 million for the equity and assumed debt
of the acquired company. Creative Host Services operates over 100 sites for
approximately 30 clients in the airports concessions market in the United
States.
The acquisition will be conducted through a cash tender offer expected to
commence within the next six days. Completion is expected in April 2004.
Michael J. Bailey, Chief Executive, Compass Group, said: 'Creative Host Services
will complement our existing airport concessions business and provide an
excellent platform for further organic growth.'
Enquiries:
Compass Group PLC +44 (0) 1932 573 000
Sarah Ellis
Director of Investor Relations
Brunswick Group Ltd +44 (0) 20 7404 5959
Timothy Grey / Pamela Small
Note:
Compass Group is the world's largest foodservice company with annual revenues in
excess of £11 billion. Compass Group has over 400,000 employees working in more
than 90 countries around the world. For more information, visit
www.compass-group.com
This information is provided by RNS
The company news service from the London Stock Exchange
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