Two large food service companies which have significant presences in the event world—and which compete against each other for accounts—both announced major ownership changes Monday.
The Aramark Corporation, which has catering presences at big-deal New York venues including the United Nations and Ellis Island, in addition to food service contracts at 14 Major League Baseball parks, received a $5.8 billion takeover offer Monday from a group led by its chairman and the Goldman Sachs Group.
Meanwhile, Restaurant Associates, which owns Manhattan restaurants Brasserie, Sea Grill, and Rock Center Café, is breaking out on its own. Part of the food service conglomerate Compass Group of London since 1998, RA will become a private company under a buyout engineered by RA C.E.O. Nick Valenti and Joachim Splichal, the chef and founder of Patina restaurant in Los Angeles. The new firm—which will take on a new name—will focus on expanding its group of about three dozen restaurants.
According to The New York Times, the deal is valued at around $100 million. RA's cafeteria business is not part of the deal, and will remain with Compass, as will Catering by Restaurant Associates, its event catering division, which has contracts at high-profile New York venues that include Lincoln Center and the American Museum of Natural History.
Posted 05.03.06
The Aramark Corporation, which has catering presences at big-deal New York venues including the United Nations and Ellis Island, in addition to food service contracts at 14 Major League Baseball parks, received a $5.8 billion takeover offer Monday from a group led by its chairman and the Goldman Sachs Group.
Meanwhile, Restaurant Associates, which owns Manhattan restaurants Brasserie, Sea Grill, and Rock Center Café, is breaking out on its own. Part of the food service conglomerate Compass Group of London since 1998, RA will become a private company under a buyout engineered by RA C.E.O. Nick Valenti and Joachim Splichal, the chef and founder of Patina restaurant in Los Angeles. The new firm—which will take on a new name—will focus on expanding its group of about three dozen restaurants.
According to The New York Times, the deal is valued at around $100 million. RA's cafeteria business is not part of the deal, and will remain with Compass, as will Catering by Restaurant Associates, its event catering division, which has contracts at high-profile New York venues that include Lincoln Center and the American Museum of Natural History.
Posted 05.03.06
