Compass Group PLC
23 May 2000
COMPASS GROUP, RUGBY FOOTBALL UNION AND PETER PARFITT SPORT
FORM NEW CATERING COMPANY FOR TWICKENHAM
Compass Group, the Rugby Football Union (RFU) and Peter Parfitt Sport today
announced the launch of Twickenham Experience Ltd, a joint venture company
capitalised at £42 million, which will provide match day spectator catering
and hospitality, conference, exhibition, meeting, reception and banqueting
services at Twickenham Stadium, the home of English rugby.
Compass Group and Peter Parfitt Sport have subscribed for shares in the new
company. Compass Group will hold 40 per cent and Peter Parfitt Sport 7.5 per
cent, leaving the RFU as the majority shareholder with 52.5 per cent. The RFU
will receive £16.75 million as payment for the rights to Twickenham Experience
Ltd and, thereafter, profits will be split between the shareholders according
to their shareholding, generating a strong stream of income for the RFU. The
board of the company will consist of a chairman and six directors: three
appointed by the RFU, two by Compass Group and one from Peter Parfitt Sport.
Twickenham Experience Ltd begins operating immediately and is responsible for
the sales, marketing and operation of all catering and hospitality facilities
within Twickenham Stadium, which include hospitality suites and boxes, meeting
rooms, restaurants, bars and refreshment points. The next international
matches at the stadium will be in the autumn, when England takes on Australia,
Argentina and South Africa prior to the Six Nations Championship in early
2001.
Enquiries:
Nick Lyon / Wendy Baker Hudson Sandler Limited 020 7796 4133
Editors' notes:
Compass Group is the world's largest foodservice organisation, with over
190,000 employees in more than 75 countries worldwide. Compass Group's UK
leisure business companies provide hospitality and foodservice to leading
sporting events including the Open Golf Championship, the Compass Group
English Open, Goodwood Racecourse and Motor Circuit, Wembley Stadium, Aintree
Racecourse and the Dome at Greenwich. Around the world, Compass Group
companies provide foodservice at the Ryder Cup, the Oscars, the Guggenheim Art
Gallery in New York, the 2000 Summer Olympics in Sydney and the Winter
Olympics in Salt Lake City.
The Rugby Football Union which promotes, fosters and governs rugby in England,
is based at Twickenham Stadium, the home of English rugby. Located in South-
West London, Twickenham Stadium has been hosting major rugby matches,
including England's international games, since the 1920s. Completely rebuilt
and renewed in the late 1980s and early 1990s, Twickenham Stadium is the
spiritual home of rugby worldwide.
Peter Parfitt Sport is a specialist provider of hospitality services at
leading sports venues in Britain. The company has been appointed by the MCC to
provide hospitality at test matches and markets and operates hospitality
facilities at other test match grounds, the British Grand Prix and major
events across the country.
AI Summary Disclaimer BETA
The content you are viewing has been generated or assisted by artificial
intelligence (AI). While efforts are made to ensure accuracy and clarity, AI-generated text may
contain inaccuracies, outdated information, or subjective interpretations. This content is intended
for general informational purposes only and should not be considered professional advice or factual
confirmation.
We encourage you to independently verify any information provided,
especially if it will be relied upon for making decisions or taking action. Any reliance you place
on this material is strictly at your own risk. The AI system that produced this content cannot
assess the specifics of individual circumstances, and results may vary based on context and
individual needs.
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.
Create an Account
Create your FREE account to receive personalised announcements, watchlists, market updates, investment insights and new features.
Personalise your experience
Tell us a little about yourself to receive personalised content, announcements and relevant investment opportunities.