Compass buys Hong Kong caterer

23rd Jun 2011 07:04

Catering giant Compass Group has strengthened its existing food services business with the Education and Business & Industry sectors in Hong Kong with a bolt-on acquisition.The UK firm is acquiring Shing Hin Catering Group from Au-Yeung Kwan for an undisclosed sum.Shing Hin Catering generated annual revenues to 31 December 2010 of HK$159.4 million (£12.7m) and gross assets at that date were HK$17.2 million (£1.4m).At 8.43am (23/6/11) shares in Compass Group were trading 2.5p higher on the day at 598p, just below their 52-week high.--jh