Sodexo To Acquire Centerplate As It Turns A Leader In ‘Sports & Leisure’
Daiycsr.com – 30 November 2017 – The Olympus Partners and Sodexo has got into an agreement of “675 million US dollars” for acquiring Centerplate, Inc., the latter provides various services such as “food and beverage, merchandise and hospitality” at location like “convention centers”, entertainment facilities as well as “sports facilities” throughout the U.S., U.K., “Canada and Spain”.
The roots of Centerplate, Inc. goes back as early as to 1929 and at present it is the “fourth largest operator by revenues in the United States Sports & Leisure market”. Stadium and arenas are at the recipient end of Centerplate’s service, whereby it hosts over “116 million guests across its portfolio” which includes premier events like “14 Super Bowls, 36 U.S. Presidential Inaugural Balls, All-Star and Championship games for professional football, baseball, basketball, hockey, soccer, collegiate athletics, and many of North America’s largest conventions” on an annual basis.
According to Sodexo, Inc.:
“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”.
The combination is expected to boost up earnings mildly from 2018 while “gradually” resulting in “significant synergies” increment Centreplate’s chief executive officer, Chris Verros will be at the head of the “new combined business” in the U.S. while the operations at Europe will get “integrated” into the “existing Sports & Leisure business” of Sudexo present in the region.
Although being a subject of approvals from “customary” regulations, the acquisition could be sealed by the end of 2017. In the words of the vice president of the “Group Executive Committee” as well as the chief executive officer of “Sports & Leisure Worldwide” at Sudexo, Pierre Henry:
“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.”
While the chief executive officer of Centerplate, Chris Verros, added:
“With Sodexo, we share the same vision to deliver a unique and memorable service for our clients and guests through our tailored food and beverage programs, unique hospitality design, rewarding event and retail services. Centerplate’s clients will benefit from Sodexo’s global capabilities, solution innovations, other on site services and geographic reach.”
References:
3blmedia.com
The roots of Centerplate, Inc. goes back as early as to 1929 and at present it is the “fourth largest operator by revenues in the United States Sports & Leisure market”. Stadium and arenas are at the recipient end of Centerplate’s service, whereby it hosts over “116 million guests across its portfolio” which includes premier events like “14 Super Bowls, 36 U.S. Presidential Inaugural Balls, All-Star and Championship games for professional football, baseball, basketball, hockey, soccer, collegiate athletics, and many of North America’s largest conventions” on an annual basis.
According to Sodexo, Inc.:
“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”.
The combination is expected to boost up earnings mildly from 2018 while “gradually” resulting in “significant synergies” increment Centreplate’s chief executive officer, Chris Verros will be at the head of the “new combined business” in the U.S. while the operations at Europe will get “integrated” into the “existing Sports & Leisure business” of Sudexo present in the region.
Although being a subject of approvals from “customary” regulations, the acquisition could be sealed by the end of 2017. In the words of the vice president of the “Group Executive Committee” as well as the chief executive officer of “Sports & Leisure Worldwide” at Sudexo, Pierre Henry:
“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.”
While the chief executive officer of Centerplate, Chris Verros, added:
“With Sodexo, we share the same vision to deliver a unique and memorable service for our clients and guests through our tailored food and beverage programs, unique hospitality design, rewarding event and retail services. Centerplate’s clients will benefit from Sodexo’s global capabilities, solution innovations, other on site services and geographic reach.”
References:
3blmedia.com
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