Bryan, Garnier & Co advises Compass Group in the acquisition of Caterine Restauration

Bryan, Garnier & Co advises Compass Group in the acquisition of Caterine Restauration

News published on May Tuesday 18, 2010
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Paris, May 18th 2010 - Bryan, Garnier & Co, the investment bank for growth companies, advised Compass Group, the world leader in catering services for the acquisition of Caterine Restauration (8th largest contract catering services group in France). The company was held so far by Industries et Finances (79%), the management (20%) and Ouest Croissance (1%).

Founded in 2006, Caterine Restauration is the result of 6 catering companies coming together overtime, specialized in central kitchens (meals prepared offsite contrary to the classical model where meals are prepared onsite). These central kitchens cover the East, the West and the Center of France and serve 13 million meals per year to 84 sites.

Thanks to the setting up of best practices and common tools, the whole group was enabled to considerably enhance its performances: since 2006, Caterine Restauration has experienced a 7% yearly organic growth of sales and expects to achieve in 2010 sales of 47m€ (vs. 42m€ in 2009). Since then Ebit margin has increased from 8% to 11%.

For Compass, third player on the French market with sales of 1.1bn€ and roughly 16,000 employees, "this acquisition will allow to strengthen our know-how and our presence in France on the segment of meals delivered from central kitchens", declared Aymar Hénin, Chairman of Compass France. The group wants to pursue the development of Caterine Restauration through a dedicated Business Unit while keeping its management team, the brands and the installations.

"Coming together with Compass will enable us to join a world leader of the industry and to benefit from its negotiation power, its expertise and from a strong support to our development", declared Pierre Brémond, CEO of Caterine Restauration.

"Bryan Garnier & Co really supported us moving through this tensed process, their valuation and negotiation skills have been precious for us in this key acquisition for Compass France", declared Bertrand Vinot, Compass France CFO.

"It has been exciting to advise Compass in this competitive auction, through which the value and attractiveness of Compass' industrial model made a real difference for the management and shareholders of Caterine", stated Virginie Lazès, Partner, Head of Corporate Finance for Bryan Garnier & Co.  

For more information, please contact:

Virginie Lazès / Managing Partner/ +33 1 56 68 75 85 | vlazes@bryangarnier.com

Audrey Gennequin / Vice-President / +33 1 56 68 75 27 | gennequin@bryangarnier.com

Marc-Antoine Janny / Analyst / +33 1 56 68 75 94 | majanny@bryangarnier.com

About Compass Group France

www.compass-group.fr  

With 188 million meals prepared each year, Compass Group France is one of the French contract catering market leaders. With 15,000 employees and sales of 1.064bn€, Compass Group France works for 2,400 organizations.

 

About Bryan, Garnier & Co

www.bryangarnier.com

Bryan, Garnier & Co is an independent investment bank specialising in European TMT, Healthcare and Renewable Energies growth companies. Bryan, Garnier & Co is positioned in three activities: Equity Research & Brokerage, Asset Management and Corporate Finance.

With more than 100 professionals based in London, Paris, New York and Geneva, Bryan, Garnier & Co combines the range of services and the expertise of top-tier investment banks with the level of attention to clients of a boutique.

Through its corporate finance practice, Bryan, Garnier & Co has became a leader in advising European growth companies on strategic finance transactions such as mergers & acquisitions, equity capital market, LBOs and private placement.

Bryan, Garnier & Co is authorized and regulated by the Financial Services Authority (FSA) in the United Kingdom, and is member of London Stock Exchange and Euronext, Alternext Listing Sponsor, and is active on all European capital markets.

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