In a deal valued at $675 million, Sodexo reached an agreement to acquire contract feeder Centerplate from Olympus Partners. The acquisition is subject to customary regulatory approvals and is expected to be closed by the end of 2017.
Centerplate provides foodservice and other services to stadiums, arenas, convention centers and a variety of other venues. It will become part of Sodexo’s sports and leisure business unit, which will more than double its footprint as a result of this transaction, per a release announcing the deal.
Chris Verros, CEO of Centerplate, will lead the new combined business in the United States. Centerplate’s European operations will be integrated into Sodexo’s existing sports and leisure business unit serving the region.