Life's A Party for Compass

30th Nov 2010 15:55

Contract caterer Compass Group is to buy an Aussie food service business based in Victoria.Compass is paying up to A$22.5m (£14.1m) in cash for Life's A Party Group (LAPG), which primarily operates in the education and leisure sectors.LAPG provides an excellent opportunity for Compass Group Australia to expand its existing presence in these two important segments of the market, the company statement said. LAPG has been acquired by Compass Group (Australia) Pty Ltd from various family trusts of the directors of LAPG, George Michaelides, Fiona Seabridge and Ian McMullin. The acquisition follows less than a week after Compass's full year results in which it said it intends to expand its activities in Australia.