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Sodexo to acquire Centerplate in £512m deal

Sodexo to acquire Centerplate in £512m deal

Catering and services giant Sodexo has acquired Centerplate from owners Olympus Partners in a £512m ($675m) deal that will strengthen its position within the sports and leisure catering market.

In North America Centerplate is a renowned provider of food and beverage, merchandise and hospitality services at sports facilities, convention centers and entertainment facilities and had taken a stong foothild in the UK operating large sports venues including Celtic Football Club, Sunderland Football Club and Sussex County Cricket Club.

Centerplate’s last twelve month revenues to June 2017 were 998 million US dollars. For reference, Sodexo’s Fiscal Year 2016 revenues for the Sports & Leisure segment were 903 million euro.

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.

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

Verros said: “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.”

Pierre Henry, vice-president of the Group Executive Committee and 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.”