Compass Group announced it has acquired two Indian firms, in the hospitality and business services support sectors respectively. Compass acquired Vipul Facility Management Private Limited (VFM) and Ultimate Hospitality Services Private Limited (UHS).
Richard Cousins, Compass Group CEO reiterated his delight with both the acquisition of Vipul Facilities Management and Ultimate Hospitality Services. According to Cousins, Vipul Facilities Management provides an excellent platform to develop Compass Group’s support services capabilities in the region.
The investment also enables the group to offer an extended range of services to clients, he added. Ultimate Hospitality Services further enhances Compass Group’s existing foodservice offering in India and provides a strong foothold in the Hyderabad region, said Cousins.
Vipul Facility Management was acquired from Mr Punit Beriwala and family. Vipul Facility Management, located in Delhi, has a national presence specializing in the provision of support services to the Business and Industry sector. The gross assets of the business acquired were 374.2 million rupees, around £5.2 million as at 31 March 2010 with revenue for the 12 months to 31 March 2010 of 710.7 million rupees, around £10 million.
The other acquisition, Ultimate Hospitality Services was acquired from Mr Praveen Rao, Mrs G Anitha and Mr Uppala Kantha Rao. Ultimate Hospitality Services is a strong regional player in the foodservice industry in Hyderabad specializing in the provision of food services to the Business and Industry sector. The gross assets of the business acquired were 42.1 million, around £0.6 million as at 31 March 2010 with revenue for the 12 months to 31 March 2010 of 167 million, around £2.3 million.
Compass Group is a global market leader in providing food and a range of support services to customers in the workplace, schools and colleges, hospitals, at leisure and in remote environments. The firm specializes in providing food, vending and related services on its clients’ premises.
Compass Group generated annual revenues of over £14.5 billion in the year to 30 September 2010. The company operates across the following core sectors of Business & Industry, Defense, Offshore & Remote Site, Healthcare, Education, Sports & Leisure and Vending with an established brand portfolio.
Compass Group aims to become a world-class provider of contract food service and support service. The company currently employs more than 428,000 people in 50 countries. It currently operates from approximately 40,000 client locations.
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