Compass acquires school meals group

2nd Sep 2011 07:56

Catering giant Compass has been on the acquisition trail again, this time gobbling up a new company in its home market rather than the more exotic countries it has been expanding in lately.It has acquired Cygnet Foods, a provider of lunches to more than 450 schools in England. In 2010, Cygnet had revenues of £9.3m and gross assets of £2.2m."We are delighted with the acquisition of Cygnet which is a great addition to our education portfolio," said Compass's UK and Ireland managing director Ian Sarson. "At a time when the public sector is coming under increasing budgetary pressures, it will enable us to offer more Local Authorities a proven cost-saving solution at the same time as delivering nutritionally balanced and healthy meals."Compass has been making an acquisition a month lately, recently picking up companies in Turkey, Hong Kong and the Netherlands.