Compass Group snaps up “boutique” operator Dine Contract Catering
Global catering giant Compass Group has made another acquisition just a month after purchasing Nordic catering business Fazer Food Services for 475 million euros. The company in question this time is a “boutique” foodservice operator, Dine Contract Catering (DCC). The new business will continue to operate as its own brand within the group, having spent the last 22 years building its reputation.
Compass Group’s share price has increased by 18% over year so far
Source: Yahoo Finance
In a statement, Compass Group UK and Ireland managing director Chris Garside was clear to highlight that DCC was a good fit with Compass’s wider structure, saying: “We’re delighted to welcome the Dine Contract Catering team to the Compass family. We share a common ethos and values and at the heart of both companies is a love of great food, a total commitment to our people and a continuous drive for exceptional, consistent service standards.”
Compass, which saw revenues of £23.24 billion in the year ended September 2018, operates in 45 countries, and employs more-than 600,000 people, is the world’s largest caterer by number of meals served per year. Such a short run between acquisitions illustrates that the company is looking to buy itself further growth.
DCC’s managing director, Ian Cartwright, was pleased to be joining the world’s largest catering company, saying: “To be working within a company of Compass’s size, prestige and standing within our industry is an honour. This is both an exciting opportunity for me personally but also a fantastic one for our people to help further their own careers by growing within the Dine Contract Catering brand but also in the wider Compass business. Our clients remain our priority and I can assure all of them that this will never change.”
Dominion holds Compass Group in its Global Trends Managed Fund.
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