Lindley Group targets £100m turnover after its acquisition by Centerplate
The Lindley Group aims to double turnover to £100m within three years as part of aggressive plans to target larger contracts following its acquisition by US catering giant Centerplate.
Centerplate, which provided hospitality at 250 US venues last year including the Super Bowl and World Series, acquired the Lindley Group for an undisclosed sum last week.
Lindley Group chief executive Adam Elliott (pictured) - who will now assume the title of president, the Lindley Group, and executive vice-president, Centerplate - said the deal gave the sports and heritage caterer the clout to go after larger and potentially more lucrative contracts.
He told Caterer and Hotelkeeper: "It makes us a global player in the market place. We have a firm foundation, some great structure and good financial stability to really move this business on."
Joint revenues for Lindley Group and Centerplate are expected to exceed £660m, but Elliott said the UK division would look to significantly grow its contribution.
"In the two year's I've been here we've grown earnings from a loss to a profit position," he explained. "This deal will allow us to take things even further.
"At the same time Centerplate want us to take this from a £50m turnover business to more of a £100m business in the UK. I'd certainly like to think we could do than within the next three years if not sooner."
Elliott added that Centerplate planned to keep the existing Lindley management team in place as it targets building on its sport and heritage contracts, which include Tottenham Hotspur's White Hart Lane, Leicester Tigers' Welford Road and Watford FC's Vicarage Road.
"We've been trailing contracts throughout the UK within our boundary but that doesn't mean to say we haven't looked at bigger contracts," he said. "Prior to the acquisition I didn't want to overstretch anything we were doing financially. This deal takes that away. It's not an open purse to buy contracts because that's not what we do. But we do have experience and resource if we need it to take on bigger contracts."
Elliott will report to Centerplate president and chief executive Des Hague, who emphasised the caterer's plans for further expansion.
Hague said: "We are excited to expand globally and look forward to providing our best-in-class clients with unmatched hospitality experiences at prestigious and iconic venues across North America and the UK."
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