Latest news with #CompassGroup
RTÉ News
an hour ago
- Business
- RTÉ News
Caterer Compass buys Vermaat for €1.5 billion, raises profit forecast
UK food catering firm Compass Group has agreed to buy European premium food services business Vermaat Groep for about €1.5 billion including debt, the firm said today, as it ramps up acquisitions after a strong quarter. The world's largest catering group also raised its annual profit forecast, saying it now expects underlying operating profit growth to be towards 11%, compared with an earlier forecast of high single-digit growth. Revenue in the third quarter ended June 30 rose 8.6%, with growth across its North America and international markets. It also benefited from recent acquisitions progressing ahead of expectations. In the first half of the year, Compass spent $1.13 billion in acquisitions, including in regions such as France and Norway.
Reuters
an hour ago
- Business
- Reuters
European shares dip as mixed earnings, trade anxiety weigh
July 22 (Reuters) - European shares nudged lower on Tuesday, weighed down by mixed corporate earnings, while market sentiment over a potential U.S. trade deal soured following reports that the bloc was preparing counter-measures. The pan-European STOXX 600 index (.STOXX), opens new tab was down 0.3% at 545.1 points, as of 0714 GMT. European chemicals stocks (.SX4P), opens new tab led sector declines, falling 1.7%, as shares of Akzo Nobel ( opens new tab dropped 4.2% after the Dulux paint maker lowered its core profit outlook for 2025. Sartorius Stedim Biotech ( opens new tab slipped nearly 7%, the biggest percentage decliner in the STOXX 600, after the French lab supplies manufacturer reported its half-year results. Conversely, Compass Group (CPG.L), opens new tab gained 4.5% after the British food catering firm agreed to buy European premium food services business Vermaat Groep for about 1.5 billion euros ($1.75 billion) including debt. In trade, EU diplomats said the 27-nation bloc was considering a broader range of counter-measures against the United States, which could allow the EU to target U.S. services or curb access to public tenders in the absence of a deal. Meanwhile, an ECB survey signalled on Monday that euro zone firms remained optimistic about their growth prospects but were also facing pressure on profits partly due to trade tensions. Investors geared up for a week of corporate updates from Wall Street and European leaders, including results from the region's largest software maker SAP ( opens new tab later in the day, to gauge the impact of trade turmoil on businesses.
Wall Street Journal
2 hours ago
- Business
- Wall Street Journal
Compass Group to Buy Dutch Caterer Vermaat; Raises Guidance
Compass Group CPG 0.40%increase; green up pointing triangle said it agreed to buy Dutch food services company Vermaat Groep for around 1.5 billion euros ($1.75 billion) including debt, and lifted its guidance for the fiscal year. The U.K. catering contractor on Tuesday said Vermaat is on track to generate sales of around 700 million euros in 2025, with a double-digit operating margin.
Reuters
3 hours ago
- Business
- Reuters
Caterer Compass raises profit forecast, buys Vermaat in $1.8 billion deal
July 22 (Reuters) - British food catering firm Compass Group (CPG.L), opens new tab raised its annual profit forecast on Tuesday, boosted by acquisitions and a strong third quarter. The world's largest catering group also agreed to buy European premium food services business Vermaat Groep for about 1.5 billion euros ($1.75 billion) including debt. ($1 = 0.8558 euros)
Bloomberg
3 hours ago
- Business
- Bloomberg
Bridgepoint Said to Sell Vermaat to Compass in €1.5 Billion Deal
Bridgepoint Group Plc is selling a majority stake in Vermaat Groep BV to Compass Group Plc in a transaction that values the Dutch caterer at about €1.5 billion ($1.8 billion), according to people familiar with the matter. Bridgepoint will fully exit its holding through the deal, the people said, who asked not to be identified as the information is private.
