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]( annces £4.4b management buyout) here.

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