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Aramark announces major acquisitions worth $2 billion-plus


Aramark Corp., in a deviation from its history of relatively small Acquisitions in recent decades, said Monday that it will spend $2.35 billion to buy two separate companies, one that manages $5 billion in purchasing for major hotel chains and a second that will expand Aramark’s uniform-rental and linen-supply business in the United States and Canada.


The second deal, for Ameripride Services Inc., based in Minnetonka, Minn., and with annual revenue of about $600 million, will significantly increase the size of Aramark’s uniform business.


The AmeriPride purchase price is $1 billion, with the net after tax benefits expected to be $850 million.


“Today is an historic day at Aramark as we announce we will join forces with two leading companies that will significantly improve how we service our customers, while expanding our capabilities and scope in critical areas of our business,” Eric J. Foss, Aramark’s chairman and chief executive said in a news release.


In early trading on the New York Stock Exchange, Aramark’s shares were up 36 cents, or less than 1 percent, to $42.69.




READ MORE (Philly.com)


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  • Marriott is the real winner of Aramark's $2.35 billion of deals (MAR, ARMK)Markets Insider
  • Aramark is buying 2 companies for a total of $2.35 billionBusiness Insider UK
  • Aramark agrees to 2 separate acquisitions totaling $2.35BPhiladelphia Business Journal
  • Aramark buys uniform, linens company and Bridgeport plantCT Post
  • Aramark to Buy Avendra and AmeriPride in Separate DealsWall Street Journal
  • Aramark Services (ARMK) to Acquire Avendra for $1.35B, AmeriPride for $1BStreetInsider.com
  • Avendra To Be Purchased By AramarkMarkets Insider
  • Deals of the day-Mergers and acquisitions (BBD., S, GRF, TIT)Markets Insider


This post first appeared on The 5th News, please read the originial post: here

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Aramark announces major acquisitions worth $2 billion-plus

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