Centerplate Acquisition Beefs Up Sodexo’s U.S. Presence

France’s Sodexo is buying Centerplate, its smaller American competitor, in a $675 million cash deal that will raise its profile in the sports and leisure markets in North America and the United Kingdom.

Sodexo, the world’s second-biggest foodservices company behind Compass Group, said the Centerplate deal would more than double current revenue in sports and leisure. Stamford, Conn.-based Centerplate had global revenues of nearly $1 billion for the past year, serving convention centers, stadiums and entertainment venues in North America, and the U.K. Formerly known as Volume Services America, it was originally a division of Canteen Corp., but since 2012 has been owned by private equity firm Olympus Partners.

Centerplate’s European operations will be integrated into Sodexo’s existing Sports & Leisure business, while Centerplate chief executive Chris Verros will lead the new combined business in the United States.

RELATED CONTENT

Sparrow at Hotel Figueroa Patio

Noble 33 Launches New Italian Concept

Noble 33 is launching its first Italian restaurant, Sparrow, located in Hotel Figueroa in downtown Los Angeles.

Tim Hortons 1200x800 1

Tim Hortons Puts Its New, Sustainable Hot Beverage Cup to the Test

Tim Hortons announced today—the kickoff day to Waste Reduction Week in Canada—that it’s launching a test of a new hot beverage cup design at select Vancouver restaurants, along with two...

- Advertisement -

- Advertisement -

- Advertisement -

TRENDING NOW

- Advertisement -

- Advertisement -