Compass buys Levy Restaurants

Compass Group has bought out US restaurant company Levy Restaurants for $250m (£141m).

The British caterer originally acquired a 49% stake in the Chicago-based company for US$87m (£49m) in September 2000.

Levy has now exercised a put option and Compass will purchase the remaining 51% on 17 April.

Since Compass first bought into the restaurant and arena caterer, revenues have increased from $200m (£113m) to $560m (£317m), as of September 2005.

Levy operates a chain of 21 restaurants and has sites at 58 US stadiums, convention centres and arenas.

By Tom Bill

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