USA: ARAMARK expands global reach with new joint venture
ARAMARK, a world leader in managed services, announced yesterday that it has entered into joint ventures in the U.K. and Ireland with the Campbell Bewley Group, the largest food service company in Ireland. The agreements enable ARAMARK to enter the market in Ireland and to expand its position in the U.K. by partnering with Ireland's top food service company. Together, the ventures will have combined annual revenues of approximately $475 million, with 900 total contracts, and 11,000 employees. "These ventures are an important part of expanding our global activities," said Joseph Neubauer, Chairman and CEO of ARAMARK. "They position us as a leader in Ireland, the fastest growing economy in Europe, and allow us to expand our capabilities in the U.K. We will continue ARAMARK's strategy of partnering with the best in each market we target." The two companies, both management-owned, have similar approaches in providing customized solutions for their customers. Campbell Bewley will continue to trade under its operating name in Ireland, managed by Dan Cronin, its CEO. Bill Toner, President of ARAMARK -UK, will manage the U.K. business. "These ventures will more than double our U.K. business and add significant strength to a very successful business in Ireland," said Dan Cronin, CEO of the Campbell Bewley Group. "We will also gain ARAMARK's worldwide distribution network for Bewley's tea and coffee business which will help expand that business dramatically." ARAMARK is a $7.2 billion world leader in providing managed services - food and support services, uniform and career apparel, and childcare and early education programs. Headquartered in Philadelphia, ARAMARK has over 160,000 employees serving 15 million people at 500,000 locations in 15 countries every day.
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