13th Jan 2006 12:45
Compass Group PLC13 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 optionand that Compass Group will purchase the remaining 51% interest in the companyon 17th April 2006, for a consideration of $250 million, in cash. Compass acquired a 49% stake in Levy Restaurants in September 2000 for $87million. Since that time annual contract revenues have increased from $200million to $560 million at 30 September 2005. Enquiries: Compass Group PLCShareholders/Analysts Sarah Ellis 01932 573000Media 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, atschool and colleges, hospitals, on the move, at leisure and in defence, offshoreand remote locations. Compass Group has annual revenues of over £12 billion andemploys 400,000 people in over 90 countries. Levy Restaurants operates numerous prestigious sporting and entertainment venuesincluding: Wrigley Field (home of the Chicago Cubs); Lambeau Field (home of theGreen Bay Packers); Dodger Stadium (home of the Los Angeles Dodgers); Ford Field(home of the Detroit Lions); FedEx Forum (home of the Memphis Grizzles); ToyotaCenter (home of the Houston Rockets); Charlotte Bobcats Arena (home of theCharlotte Bobcats); 6 NASCAR racetracks, Churchill Downs, (home of the KentuckyDerby); and most recently, American Airlines Center (home of Dallas Mavericksand Stars). In 2002, Levy Restaurants was also selected by AEG to be theexclusive foodservice provider at all AEG sports and music venues around theworld, including: STAPLES Center (home of the Los Angeles Lakers, Clippers andKings); Home Depot Center (Los Angeles) and the O2, an arena and sports facilityin London on the site of the former Millennium Dome. Levy's sports and entertainment roster also includes the industry's highestprofile events: numerous Super Bowls, Grammy Awards, major league All-Star andchampionship games, World Series, Kentucky Derbys and NASCAR racing. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Compass Group