8th Jan 2009 09:51
Compass Group Acquires KIMCO Corporation North America
Compass Group PLC announces the acquisition of the North American KIMCO Corporation ("KIMCO") from the Tarson family.
With 5,500 employees, KIMCO provides predominately caretaking soft services to commercial and industrial customers across North America. The consideration, which was paid in cash, was US$75m with a further maximum US$15m performance related payment.
Gary Green, Group Managing Director of Compass North America said: "We are excited to be gaining such capable and experienced management talent through the acquisition of KIMCO, which enables us to deliver services to additional segments of the market, and which positions Eurest Services for continued growth in North America."
- Ends -
Notes to editors:
1. Compass Group is the world’s leading foodservice company. We specialise in providing food,
vending and related services on our clients' premises and we generate annual revenues of around
£11billion in the year to 30 September 2008. The company operates across the following core
sectors of Business and Industry (B&I), Defence, Offshore & Remote Site, Healthcare, Education,
Sports & Leisure and Vending with an established brand portfolio. For more information visit
www.compass-group.com.
2. Eurest Services is the Compass Group business and industry sector brand.
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Enquiries:
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Investors/Analysts
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Andrew Martin
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+44 (0) 1932 573000
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Media
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Chris King
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+44 (0) 1932 573116
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Website:
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www.compass-group.com
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Related Shares:
Compass Group