Compass strengthens Foodbuy with Zero Procure acquisition

Compass Group UK & Ireland has acquired Zero Procure to add to its Foodbuy UK & Ireland business.

 

The catering giant launched Foodbuy, a food and drink procurement company for the foodservice industry, in 2016, which has since grown into a £2b business.

 

Foodbuy was created by Compass following its acquisition of third-party procurement specialists Acquire Services in October 2015.

 

Since then, the business has provided services across restaurants, hotels, care homes and education establishments.

 

In an announcement on LinkedIn, Zero Procure revealed the new ownership will “significantly enhance” its ability to offer customers greater purchasing power and access to exclusive deals while enabling a “robust and reliable supply chain”.

 

“It marks a pivotal step in Zero Procure’s journey to solidify its position as the procurement partner of choice for the UK’s high-end hotels, restaurants, and members’ clubs,” the announcement added.

 

London-based procurement company Zero Procure was founded in 2020 with the aim of connecting suppliers and operators in the hotel and restaurant sector.  

 

John Stevenson, Clive Sheppard and Lucy Flinter, the co-founders of Zero Procure, said: “This recognition from Foodbuy is a testament to the hard work we’ve put in. The confidence they have in our team is a huge validation of our efforts so far. The future is incredibly exciting, and we couldn’t be more proud of the team and what we’ve accomplished in such a short time.”

 

Karl Atkins, chief executive of Foodbuy Group UK, added: “Zero Procure is a brilliant business and we are absolutely delighted to welcome them to Foodbuy UK&I.

 

“This strong partnership will enhance the range of food and services we offer to the hotel and restaurant sectors through sharing our love for great food, our commitment to our people and the environment, suppliers and clients and of course, our drive for exceptional service standards.”

 

Terms of the deal were not disclosed.

 

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