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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