Acquisition

RNS Number : 2105N

Compass Group PLC

08 June 2010

 



Compass Group Announces the Acquisition of Southeast Service Corporation in North America

We are pleased to announce today the acquisition of Southeast Service Corporation ("SSC") for a cash consideration of US$65m (GB£45m).  SSC is a provider of soft support services operating in the education and business & industry sectors in the United States of America.  Revenue in the year to 31 December 2009 was US$153m (GB£106m).

Founded in 1969, SSC has over 6,500 employees providing soft support services to schools, colleges & universities, as well as a range of commercial clients.  SSC has over 1,000 clients in 36 states, with its corporate headquarters in Knoxville, Tennessee.

Richard Cousins, Compass Group CEO said: "Building on the success of our significant education foodservice business, this acquisition enables us to extend the range of services we provide in this important sector.  In addition to this it further strengthens our business & industry soft support service offer in North America."

SSC has been acquired by Compass Group North America through its operating company, Crothall Services Group, from Sherri Lee together with other members of the Lee family and others, including members of the Southeast Service Corporation Stock Savings Plan.

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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 

About Compass Group North America and Crothall Services Group
Based in Charlotte North Carolina, Compass Group North America is the leading foodservice and support services company in the United States with $9.2 billion in revenues in 2009.

Crothall Services Group is a premier provider of support services to the healthcare, education and business & industry sectors in the United States.  Crothall serves more than 1,500 customers across the US, employs and manages over 30,000 people, and leads the industry with an average customer retention rate of over 99%. Crothall's service offerings, through its Crothall Healthcare, Eurest Services, and SSC Service Solutions subsidiaries include Janitorial and Environmental Services, Laundry & Linen, Patient Transportation, Clinical Equipment Services and Facilities Management.  For more information visit www.crothall.com

Enquiries:

Investors/Analysts                               Sarah John                      [phone]

Media                                                    Chris King                        [phone]

Website:                                             www.compass-group.com

 

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