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| April
15, 2008 |
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Regional Contractors Acquired by New
Entity
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Two major U.S.-based regional foodservice management companies have
been acquired by former Compass Group PLC CEO Michael Bailey in
partnership with the Gryphon Investors private equity firm. The two are
Aladdin Food Management Services and Fitz, Vogt & Associates. The deal,
which also included Aladdin subsidiary Ameriserve Food Service
Management, was made through a newly formed company called TrustHouse
Services Group, Inc., of which Bailey will serve as chairman and CEO.
The acquired companies operate in the New England, Mid-Atlantic and
Upper Midwestern markets, serving customers primarily in the healthcare
and education segments. Aggregate annual sales of the acquired firms is
around $105 million, which would put TrustHouse into the top 20 in Food
Management’s Top 50 Contract Management Companies listing.
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Manitowoc to Purchase Enodis for
$1.89B Plus Debt
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The Manitowoc Co., Inc., has completed an acquisition offer for
major foodservice equipment manufacturer Enodis in a transaction valued
at around $2.1 billion, including the assumption of approximately $207
in debt. The transaction is subject to court approval in the U.K., the
approval of Enodis shareholders, as well as regulatory approvals in
various jurisdictions. Enodis is headquartered in Tampa, FL, and markets
a series of prominent equipment brands in the U.S, including Cleveland,
Convotherm, Dean, Delfield, Frymaster, Garland, KE-O-Matic, Jackson,
Lincoln, Merco-Savory, Merrychef, Scotsman, US Range and Varimixer. Its
revenues in its most recent fiscal year were around $1.6 billion. Enodis
is regarded as one of the world's leading suppliers of both “hot”
and “cold” foodservice equipment, while Manitowoc Foodservice's
focus has been only on "cold”. Hence, a combination with Enodis will
allow Manitowoc to enter two major new market segments, hot foodservice
and food retail equipment, as well as expand its cold-side businesses.
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Six Thousand Sodexho Sites to Get
Ecolab Apex Dishwash Systems
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Sodexo says it will replace existing dishwashing products and
systems in all its 6,000 client sites in the United States with the new
Ecolab Apex dishwashing system as part of its corporate sustainability
program.
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Centerplate Won't Be at New Yankee
Stadium
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The New York Yankees have announced that
Centerplate—concessionaire at current Yankee Stadium through the 2008
season—will not be concessionaire at the new Yankee Stadium when it
opens in 2009. The Yankees contract is Centerplate’s largest,
representing 9.6% of its overall business, or about $71 million in
fiscal 2007.
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U-Michigan to Change Meal Plan
Approach
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The University of Michigan plans to change its meal plan approach
from a meals-per-week system to a semester block plan, reports the
Michigan Daily. The school’s board of regents has yet to finalize the
prices of the new plans but they are expected to average about the same
amount per meal as the previous plans.
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KC Schools Ends Deal With
Chartwells
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The Kansas City School District has voted to end its foodservice
contract with Chartwells after a year and put the $6.7 million contract
up for bid this summer, reports the Kansas City Star. The district says
the financial and operational improvements the company promised when it
won the contract in 2007 have not materialized. Chartwells says the
district enrollment numbers, on which the company’s projects were
based, were inflated and that the district gave larger-than-anticipated
salary increases to foodservice employees, inflating labor costs.
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Air Force Explores Changes in
Foodservice
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The Air Force is contemplating a change in the way it provides
foodservice at its installations, reports the Air Force News. The
change, which is being studied by the Air Combat Command, involves going
to a college dining model where Air Force personnel would be like
residential meal card holders who can spend their meal entitlements
either in the dining halls or in onsite retail operations, while
civilian workers could provide extra cash sales opportunities. The
change seeks to accommodate a changed service branch that now has fewer
uniformed personnel—about half as many as its post-World War II high
of 600,000—and more contract workers on its bases. As a result of the
shift, the average Air Force dining facility—which is restricted to
uniformed personnel—is only being used at about 40 percent capacity,
says one officer quoted in the story. Final reports summarizing the
research is due this fall.
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Administrative, Financial Failing
Uncovered in Columbus Schools Foodservice Dept.
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An internal audit found significant administrative, financial and
management problems in the Columbus (OH) Schools foodservice department
and FSD Dudley Hawkins will step down and be reassigned this summer,
reports the Columbus Dispatch. Hawkins told the paper his change in jobs
is unrelated to the audit results and is due to “personal reasons.”
The audit found that the department had been making purchases of
unapproved—often more expensive—items, paying several times for the
same product and missing out on $340,000 in government reimbursements
because of missed deadlines and underreporting of the number of meals
served. The result: a persistent multi-million dollar deficit in a
department with a current projected budget of $25.5 million. The
auditors cited “poor management and a lack of internal
communication” that resulted in a lack of internal controls and
defined processes for buying food, monitoring inventory and processing
invoices.
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Sportservice Picked as New Twins
Ballpark Concessionnaire
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Delaware North Companies Sportservice has been selected to provide
food, beverage and retail merchandising services at the new Minnesota
Twins ballpark, which is scheduled to open in the spring of 2010. The
eight-year deal includes managing all concessions, gourmet catering and
fine dining operations as well as retail stores and kiosks within the
40,000-seat ballpark. The agreement also calls for Sportservice to
manage operations of the Twins Pro Shop retail outlets in the area.
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Levy Gets Contract for New Nets
Arena
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Levy Restaurants has been selected as the catering and concessions
provider for the Barclays Center, the new home of the NBA’s New Jersey
Nets in Brooklyn, NY, that is expected to open in the fall of 2010. Levy
will oversee catering for the arena’s 118 executive suites and 12
courtside suites, as well as restaurant dining, general and club
concessions and in-seat service.
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Univ. of Minnesota Reups With
Aramark
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The University of Minnesota has renewed it foodservice contract with
Aramark for another 12 years in a deal valued at $96 million. Aramark
has been the university's campus dining provider since 1998.
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Foodservice...
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