Compass, the world’s largest foodservice group, has announced it has agreed to acquire Elior's operations in the Netherlands, for an undisclosed sum.
The group announced this morning that its Dutch subsidiary Nederland Holding BV (Compass Nederland) had agreed to acquire Elior Nederland BV (Elior Nederland) from a subsidiary of Elior.
Elior Nederland reported revenues for the year ended 30 September 2010 of EUR95.5m (£83m). The gross assets of Elior Nederland as at 30 September 2010 were EUR28.3m (£24.6m).
The completion of the transaction is conditional on clearance by the Netherlands Competition Authority.
Elior Nederland is an established foodservices business, based in Amsterdam and operates in the B&I, Education and Healthcare sectors.
Richard Cousins, chief executive of Compass, said: "The acquisition provides an excellent opportunity for Compass Group to expand its existing presence in this important market.”
