Contract caterer Aramark announces date for £4.4b management buyout

16 November 2006
Contract caterer Aramark announces date for £4.4b management buyout

Aramark has announced that the $8.3b (£4.4b) management buyout (MBO) led by chief executive Joseph Neubauer will complete late this year or in early 2007.

The move, which includes the repayment of $2b (£1.1b) of debt, will return ($33.80) £17.90 to shareholders.

Group turnover for the year to 29 September rose by 6% to $11.6b (£6.1b) while net income dipped slightly from $288m (£152m) to $261m (£138m).

Aramark said it would not comment on the figures due to the impending MBO.

Although no breakdown was available for individual countries, earlier this month Caterer revealed that UK turnover was expected to be in the region of £350m.

By Tom Bill

Aramark to fly into Heathrow as annual HQ costs top £1m? >>

Aramark MBO ‘will boost performance' >>

Aramark chief executive to lead management buy-out of the contract caterer >>

E-mail your comments to Tom Bill](mailto:tom.bill@rbi.co.uk?subject=Aramark annces £4.4b management buyout) here.

Get your copy of Caterer and Hotelkeeper every week -

[Sudoku](http://www.caterersearch.com/Articles/Article.aspx?liArticleID=302619 "A new puzzle every day!") Join the craze and play Sudoku online!
[Newswire For the latest hospitality news, sign up for our e-mail news alerts.
The Caterer Breakfast Briefing Email

Start the working day with The Caterer’s free breakfast briefing email

Sign Up and manage your preferences below

Check mark icon
Thank you

You have successfully signed up for the Caterer Breakfast Briefing Email and will hear from us soon!

Jacobs Media is honoured to be the recipient of the 2020 Queen's Award for Enterprise.

The highest official awards for UK businesses since being established by royal warrant in 1965. Read more.

close

Ad Blocker detected

We have noticed you are using an adblocker and – although we support freedom of choice – we would like to ask you to enable ads on our site. They are an important revenue source which supports free access of our website's content, especially during the COVID-19 crisis.

trade tracker pixel tracking