Compass to Buy CH&CO for Initial Enterprise Value of $600 Million
By Michael Susin
Compass Group said it has agreed to buy provider of premium contract and hospitality services CH&CO for an initial enterprise value of 475 million pounds ($603.4 million) to complement its footprint in the U.K. and Ireland.
The U.K. catering contractor on Monday said CH&CO currently generates annual revenue of around GBP450 million and operates across a range of sectors.
The initial enterprise value will be followed by an additional earn out over the two years following closing, dependent on the profit growth of the business.
"With CH&CO's strong brand identity and a broad geographic reach, we would be able to further enhance our customer proposition, helping us capitalize on the significant growth potential in the market," Chief Executive Dominic Blakemore said.
Write to Michael Susin at michael.susin@wsj.com
(END) Dow Jones Newswires
January 22, 2024 03:04 ET (08:04 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
After Earnings, Is Albemarle Stock a Buy, a Sell, or Fairly Valued?
-
Is ServiceNow Stock a Buy After Earnings and Its Investor Day?
-
3 Stocks to Buy and 3 Stocks to Sell After Earnings
-
Markets Brief: Is It Really a Surprising Quarter for Earnings?
-
After Earnings, Is Berkshire Hathaway Stock a Buy, a Sell, or Fairly Valued?
-
For Bond Investors, Delayed Rate Cuts Demand a Different Playbook
-
What’s Happening In the Markets This Week
-
How the Tokyo Stock Exchange Is Pushing for Better Shareholder Returns
-
Occidental Earnings: CrownRock Transaction Should Still Close, but Not Until the Third Quarter
-
After Earnings, Is Apple Stock a Buy, a Sell, or Fairly Valued?
-
Uber Earnings: Network Effect Continues to Drive Profitable Growth for Uber
-
Undervalued by 28%, This Stock Is a Buy for Patient Investors
-
10 Best Growth Stocks to Buy for the Long Term
-
The Best Technology Stocks to Buy
-
After Earnings, Is Coke Stock a Buy, a Sell, or Fairly Valued?
-
Disney Earnings: Improved Streaming Results Come at the Expense of Continued Linear Weakness