Compass Group PLC
13 January 2006
Compass Group PLC
Compass Group to acquire remaining interest in Levy Restaurants
13 January 2006
Compass Group PLC announces that Levy Restaurants has exercised its put option
and that Compass Group will purchase the remaining 51% interest in the company
on 17th April 2006, for a consideration of $250 million, in cash.
Compass acquired a 49% stake in Levy Restaurants in September 2000 for $87
million. Since that time annual contract revenues have increased from $200
million to $560 million at 30 September 2005.
Enquiries:
Compass Group PLC
Shareholders/Analysts Sarah Ellis 01932 573000
Media Paul Kelly 01932 573000
Notes to Editors:
Compass Group PLC is the world's leading foodservice company providing food,
vending and related services to clients and customers in the workplace, at
school and colleges, hospitals, on the move, at leisure and in defence, offshore
and remote locations. Compass Group has annual revenues of over £12 billion and
employs 400,000 people in over 90 countries.
Levy Restaurants operates numerous prestigious sporting and entertainment venues
including: Wrigley Field (home of the Chicago Cubs); Lambeau Field (home of the
Green Bay Packers); Dodger Stadium (home of the Los Angeles Dodgers); Ford Field
(home of the Detroit Lions); FedEx Forum (home of the Memphis Grizzles); Toyota
Center (home of the Houston Rockets); Charlotte Bobcats Arena (home of the
Charlotte Bobcats); 6 NASCAR racetracks, Churchill Downs, (home of the Kentucky
Derby); and most recently, American Airlines Center (home of Dallas Mavericks
and Stars). In 2002, Levy Restaurants was also selected by AEG to be the
exclusive foodservice provider at all AEG sports and music venues around the
world, including: STAPLES Center (home of the Los Angeles Lakers, Clippers and
Kings); Home Depot Center (Los Angeles) and the O2, an arena and sports facility
in London on the site of the former Millennium Dome.
Levy's sports and entertainment roster also includes the industry's highest
profile events: numerous Super Bowls, Grammy Awards, major league All-Star and
championship games, World Series, Kentucky Derbys and NASCAR racing.
This information is provided by RNS
The company news service from the London Stock Exchange
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