November 15, 2017 / 7:15 AM / a year ago

Services group Sodexo buying U.S. firm Centerplate for $675 mln​

PARIS, Nov 15 (Reuters) - French facilities management and vouchers group Sodexo is buying Centerplate, a U.S. company that provides food and hospitality services, for $675 million to expand in the U.S. sports and leisure market.

Sodexo, which is the world’s second-biggest catering services company behind Compass Group, said the takeover would increase its presence in sports hospitality, given that Centerplate runs services at events such as the American Football Super Bowl and basketball tournaments.

Sodexo is buying Centerplate from private equity firm Olympus Partners, and it added that the takeover was expected to be add to its earnings from 2018 onwards.

Reporting by Sudip Kar-Gupta, editing by Louise Heavens

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