CANADA: Cara Operations completes sale Of Health Services business
Toronto, Ontario-based Cara Operations Ltd has successfully completed the previously announced sale of the business carried on by Cara's Health Services Division to Compass Group Canada. The total proceeds of the transaction to Cara are approximately C$30m (US$m), and under the terms of the deal, Compass Group also agreed to enter into a food service distribution agreement with Cara's distribution subsidiary, Summit Food Service Distributors (SFSD). SFSD will supply the Compass health services accounts in Canada, and Compass Group will also continue to have the opportunity to licence Cara's brands in health services accounts, including Harvey's, Swiss Chalet and Second Cup.
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