Sports and hospitality caterer Levy UK + Ireland had acquired a 50% stake in event bar business Peppermint.
The new arrangement follows on from the partnership over the past year which saw Peppermint bring its drinks-led support to venues across the Levy portfolio including Tottenham Hotspur stadium, Cheltenham Racecourse, and Villa Park stadium.
Founded in 2003 by Alex Brooke and Adam Hempenstall, who me at university when promoting student events, Peppermint started by delivering bars at boutique music festivals and today services over 40 events annually, including BST Hyde Park.
The deal will see both Brooke and Hempenstall continue to run the business alongside Jon Reid, operations director of Levy.
Redi said: "Levy is thrilled to invest in a business as passionate as us when it comes to improving and delivering the finest customer experience. The introduction came from AEG, our partners at the O2, who Peppermint also work alongside – a great example of how mutual partners and liked-minded businesses can work together.
"Our commitment to the consumer journey using leading edge technology and data insight matched with Peppermint's award-winning capabilities will be a force to be reckoned with."
Brooke said the brining together of Levy and Peppermint has created "an extremely powerful combination" which will enable further growth in the events and festival sector "enabling high volume, high quality and highly produced environments".
Hempenstall added: "We are excited to have found a partner that shares our values and passion to lead from the front when it comes to recognising and developing our people. We also share the urgency in delivering sustainability across our industry, with a shared goal for net zero by 2027, one of the most aggressive in our industry."
Levy UK + Ireland is the sports and hospitality arm of Compass Group UK and Ireland, with a portfolio of businesses including Keith Prowse, Payne and Gunter, and Lime Venue Portfolio.