Sodexo Expands Sports Position By Acquiring Centerplate

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20 November 2017

Sodexo has signed an agreement to acquire Centerplate, Inc. a provider of food and beverage, merchandise and hospitality services at sports facilities, convention centres and entertainment facilities in the United States, the United Kingdom, Canada and Spain, for US$675 million (£506m or €574m) from Olympus Partners.

Tracing its roots to 1929, Centerplate, Inc. is the fourth largest operator by revenue in the United States sports & leisure market, the largest market globally. Centerplate serves stadiums and arenas, annually hosting more than 116 million guests across its portfolio of premier venues for marquee events.

This acquisition substantially strengthens Sodexo's position in the North American market, and brings the Group's sports & leisure business to scale in the region. In the UK, the acquisition supports Sodexo's strategy to grow its stadia and cultural destination portfolio. The acquisition also positions Sodexo as a leading player in sports & leisure globally, more than doubling its footprint.

Pierre Henry, CEO Sports & Leisure Worldwide for Sodexo, said: "This acquisition is another step in our long-term strategy to become a leading player in every market in which we are present. Centerplate is an ideal partner with highly professional, dedicated teams who bring a wealth of industry expertise. We look forward to working together with Centerplate to bring exceptional "Quality of Life" experiences to tens of thousands of fans and spectators around the world."

 

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