UK: Granada Compass mulls acquisition on the continent
Following last Tuesday's announcement that Granada Compass was in talks to sell off its Le Meridien, Posthouse and Heritage hotel chains, the British hotels and catering group is now believed to be mulling acquisitions in the US and continental Europe.The two overseas rivals that have been tagged for takeover are the US-based ARAMARK and the Italian restaurant group Autogrill, and the addition of either is estimated to be worth more than £2bn to Granada. The hotels to be sold meanwhile are thought to be worth £3bn, and interested parties include the Hilton Group, French hotel group Accor and Bass.It is believed that Granada Compass is particularly keen to expand its operations into continental Europe, but such speculation will not be satisfied until the start of December, as industry sources have revealed that no deal will be finalised until Granada Compass reports its annual results. In the meantime, the group's shares closed last week on a low of 678p, and after its recent demerger with Granada Media, the group's first trading statement will be issued later this week.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 16 years of archives.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- It won't just be Unilever to push for Brexit hikes
- Price an underlying tension across European FMCG
- Interview: UK trade body on Brexit's policy impact
- Danone's Q3 sales - what the analysts say
- Interview: UK trade body on the impact of Brexit
- Nestle lowers outlook on "softer environment"
- PepsiCo sets 2025 nutrition, sustainability goals
- China "transition" drags on Danone Q3
- UK announces "action plan" to drive food exports
- CP Foods invests in UK foodservice firm Foodfellas
- The Big 15: Strategies and Priorities of Top Packaged Food Players in Comparison
- Omega-3 in Food and Beverage:Time for a Reboot?
- Constellation Brands, Inc. (STZ) - Financial and Strategic SWOT Analysis Review
- Global Food Packaging: Innovating for Greater Convenience and Quality Image
- Packaged Food: Quarterly Statement Q3 2016