Compass spends £113m in canteen
12 April 2012
COMPASS today splashed out £113.7m on a California-based university and company canteen caterer. Bon Appetit Management serves more than 150 canteens in companies and on campuses across the US, and last year had sales of $279m (£199m).
The deal is part of Compass's programme to build up its global reach. It spent £1.3bn on deals in 2001 and recently bought Japan's Seiyo Food Systems for £370m.
Currently, 16% of Compass's US turnover is from schools and colleges, against 6% in Britain.
