Acquisition

RNS Number : 4914N

Compass Group PLC

02 September 2011

 



COMPASS GROUP ACQUIRES CYGNET FOODS HOLDINGS LIMITED

We are pleased to announce today that Compass Group has acquired Cygnet Foods Holdings Limited ("Cygnet") from James Cartwright and Ian Cartwright.  For the year ended 31 December 2010 Cygnet had revenues of £9.3 million and gross assets of £2.2m.

Cygnet is a specialist provider of school meals to the state education sector, servicing a portfolio of over 450 schools across England. The business delivers both hot and ready to heat meals, prepared in line with the Government's health and wellbeing guidelines, to schools that do not have the necessary catering facilities onsite. The acquisition of Cygnet will further improve Compass' offering to the UK education sector.

Ian Sarson, Group Managing Director of Compass Group UK & Ireland, said: "We are delighted with the acquisition of Cygnet which is a great addition to our education portfolio. At a time when the public sector is coming under increasing budgetary pressures, it will enable us to offer more Local Authorities a proven cost-saving solution at the same time as delivering nutritionally balanced and healthy meals."

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Notes to editors:

About Compass Group PLC

Compass Group is a world leading food and support services company, which generated annual revenues of £14.5 billion in the year to 30 September 2010. It operates in around 50 countries, employs over 430,000 people and serves over 4 billion meals every year. The company specialises in providing food and a range of support services across the core sectors of Business & Industry, Defence, Offshore & Remote Site, Healthcare, Education, Sports & Leisure and Vending with an established brand portfolio. For more information, please visit www.compass-group.com.

Enquiries:

Investors/Analysts                               Sarah John / Kate Patrick                    [phone]

Media                                                    Clare Hunt                                            [phone]

Website:                                             www.compass-group.com

 

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