Latest news with #VermaatGroep
Yahoo
22-07-2025
- Business
- Yahoo
Compass Group to acquire Vermaat from Bridgepoint
Compass Group has agreed to purchase Dutch food services company Vermaat Groep for an enterprise value of €1.5bn ($1.74bn) from private equity company Bridgepoint. Bridgepoint will completely divest its stake, alongside Partners Group, which initially invested in Vermaat in 2015 and retained a minority interest following Bridgepoint's investment in 2019. Founded in 1978 as a delicatessen, Vermaat has evolved into a key player in the Dutch food services sector. The company began its partnership with Bridgepoint in 2019. Compass describes Vermaat as a 'high-performing' multi-sector platform that presents a 'unique opportunity' for sustainable growth within Europe. Vermaat holds a leading position in the Netherlands and is expanding its footprint in Germany and France, both of which are among Compass Group's top ten markets. The company has achieved a compound annual growth rate close to 20% since 2010, alongside good profit margins. Vermaat is projected to generate sales of €700m with a double-digit operating margin by 2025. The acquisition is anticipated to enhance Compass Group's margins and earnings per share in the first full year of ownership. Upon completion of the deal, Compass expects its post-acquisition leverage to be approximately 1.5 times net debt to earnings before interest, taxation, depreciation and amortisation by the end of FY26, prior to a reduction in FY27. This transaction is pending regulatory approval and consultation with the Vermaat Works Council. Compass Group CEO Dominic Blakemore stated: " Vermaat is a best-in-class food services business which will significantly strengthen Compass Group's premium offer across Europe and will provide us with exceptional leadership talent.' The management team of Vermaat will join Compass Group upon completion of the transaction and will continue to operate the business on a standalone basis. Vermaat CEO Rick Zeelen stated: "Compass and Vermaat are highly complementary businesses with similar cultures and priorities. The leadership team remains fully committed to executing its European growth strategy. 'Together, subject to regulatory approval, we will be able to provide clients with an even more compelling proposition in a highly attractive growth market, accelerating our premium offering in Europe. We look forward to joining Compass and the exciting journey ahead." In 2024, Compass Group UK & Ireland's Compass One division announced the purchase of Peabodys Coffee, a provider of food and beverages within healthcare environments. "Compass Group to acquire Vermaat from Bridgepoint" was originally created and published by Verdict Food Service, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
RTÉ News
22-07-2025
- 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
22-07-2025
- Business
- Reuters
UK's Compass strikes its biggest-ever deal with $1.8 bln Vermaat acquisition
July 22 (Reuters) - Food catering firm Compass (CPG.L), opens new tab has agreed to buy European premium food services business Vermaat Groep for about 1.5 billion euros ($1.75 billion) including debt, it said on Tuesday, marking its largest-ever deal. Compass, the world's largest catering group, also raised its annual profit forecast after reporting revenue growth of 8.6% for the third quarter ended June 30, on strong demand across its markets, including its largest market of North America. Compass shares soared 8.8% in early trade. The company's quarterly update contrasted with rival Sodexo ( opens new tab, which warned earlier this month that U.S. President Donald Trump's policies could affect its universities and healthcare business and forecast annual revenue and margin growth at the lower end of its forecast. Compass, which caters to staff and students at Microsoft (MSFT.O), opens new tab, Shell (SHEL.L), opens new tab, and Harvard Business School, said its North America business saw strong revenue growth across all its sectors. A spokesperson said revenue and volume growth in the U.S. education sector was "holding up well". "We view Compass' trading update as supportive, providing reassurance over the industry in general and confirming our take that Sodexo's underwhelming momentum has a limited read on the space," JPMorgan analysts said in a note. Annual underlying operating profit growth is expected to be closer to 11% now, compared with an earlier forecast of high single-digit growth. Compass said that Vermaat was on track to generate sales of about 700 million euros with a double-digit operating profit margin in 2025. Vermaat operates in premium locations like museums and art galleries in the Netherlands, France and Germany. Compass has made several acquisitions in Europe this year -and recent acquisitions were progressing ahead of expectations, supporting its growth forecast, the company said. Many companies operating in the U.S. are contending with higher inflation as Trump's tariff policies have forced some businesses to pass costs on to consumers. Compass said its pricing across markets was in line with expectations. ($1 = 0.8558 euros)
Wall Street Journal
22-07-2025
- 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
22-07-2025
- 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)
