Compass Group PLC, a global food service company, has announced its proposed acquisition of CH&CO, a UK and Ireland-based provider of premium contract and hospitality services, for an initial enterprise value of £475m/$600m1. CH&CO, with annual revenues of approximately £450m/$570m1, operates across various sectors, including Business & Industry, Sports & Leisure, Education, and Healthcare. The acquisition is expected to complement Compass Group's existing footprint in the UK and Ireland.

Dominic Blakemore, Group CEO of Compass Group PLC, expressed enthusiasm about the acquisition, stating, "This proposed acquisition combines the best of the two companies: our shared passion for people, great food, and focus on sustainability." He also highlighted the potential for enhancing the customer proposition and capitalizing on market growth. Bill Toner, CEO of CH&CO, echoed the sentiment, emphasizing the potential for growth and innovation through the acquisition.

The transaction details include an initial enterprise value of £475m/$600m1, with an additional earn-out over the two years following closing, dependent on the profit growth of the business. The completion of the proposed transaction is subject to regulatory approval.

The acquisition aligns with Compass Group's strategy to create value through disciplined capital allocation, leveraging its strong cash generation and balance sheet to invest in organic growth and acquire high-quality businesses with exceptional management teams. The company aims to accelerate growth and enhance shareholder returns through such strategic investments.

For further information, investors can contact Agatha Donnelly, Helen Javanshiri, or Simon Bielecki at +44 1932 573 000, while press inquiries can be directed to Giles Robinson at +44 1932 963 486 or Tim Danaher at +44 207 404 5959. Additional details can be found on the company's website at www.compass-group.com.