Sodexo Buying Centerplate

International food services and facilities management company Sodexo, which has its U.S. headquarters in Gaithersburg, is buying sports and entertainment venue hospitality provider Centerplate from its private equity owners for $675 million in cash.

The deal, announced early Wednesday, will allow Sodexo (NYSE: SDXAY) to build its profile at American sports and entertainment venues. The Paris-based company says the acquisition will increase its revenue in sports and leisure twofold, as Connecticut-based Centerplate operates concessions at hundreds of stadiums and arenas around the globe. CLICK HERE TO READ ENTIRE STORY

Source: Washington Business Journal

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