Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Compass Group plc    CPG   GB00BD6K4575

COMPASS GROUP PLC

(CPG)
  Report  
Delayed Quote. Delayed London Stock Exchange - 07/19 11:35:09 am
1961.5 GBp   +0.49%
07/08COMPASS : Sodexo shares slump as it warns of slower sales growth
RE
07/05COMPASS : Annual Update of Euro Medium Term Note Programme
PU
07/02COMPASS : Director Declaration
PU
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

Compass : British caterer Compass to buy Nordic rival Fazer Food for 475 million euros

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/11/2019 | 05:19am EDT

HELSINKI (Reuters) - British caterer Compass Group has agreed to buy Nordic rival Fazer Food Services for around 475 million euros (£424 million), the two companies said on Tuesday, giving it a stronger foothold in Scandinavia.

Compass, which provides meals for office workers, armed forces and school children in more than 50 countries, has in the past year been cutting costs and focusing on its food business, while reducing non-core operations.

"This is a very attractive acquisition for Compass Group which already has a presence in the region," Compass said in a statement.

"The transaction is expected to achieve the company's acquisition criteria of returns greater than the cost of capital by the end of year two," it said.

Finland-based Fazer Food Services employs 7,000 employees at more than 1,000 sites in Finland, Sweden, Norway, Denmark, and Estonia.

Compass will pay 420 million euros in cash with the rest of the acquisition payment payable within seven years dependent on closing balance sheet adjustments and the operation of an earn-out.

Compass shares were down 0.9% on Tuesday after gaining 16% in the past 12 months.

"Compass is already present in the region which should be helpful for cost synergies," analysts at Jefferies said in a note. "The asset appears to be sub-scale at present and may have been a slightly neglected non-core element of a larger FMCG group."

Fazer Food Services generated turnover of 593 million euros and EBITDA of 39.8 million in the 12 months that ended in April.

After the deal is approved by regulators Fazer will be a much smaller company focused on its bakery and confectionary business, as Food Services generated 37 percent of its 2018 turnover and employed 45 percent of its staff.

(Reporting by Tarmo Virki in Helsinki and Justin George Varghese in Bengaluru; Editing by Susan Fenton)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on COMPASS GROUP PLC
07/08COMPASS : Sodexo shares slump as it warns of slower sales growth
RE
07/05COMPASS : Annual Update of Euro Medium Term Note Programme
PU
07/02COMPASS : Director Declaration
PU
06/20COMPASS GROUP PLC : Ex-dividend day for interim dividend
FA
06/13COMPASS : Multiplex - CONSTRUCTION COMMENCES ON NEW BAY VILLAGE ACCOMMODATION FA..
AQ
06/11COMPASS : British caterer Compass to buy Nordic rival Fazer Food for 475 million..
RE
06/11COMPASS : to acquire Fazer Food Services
PU
06/11Compass Group to Acquire Fazer Food Services for EUR475 Million
DJ
06/11COMPASS : Fazer Group has agreed to sell Fazer Food Services to Compass Group PL..
AQ
06/04COMPASS : 2019 Hospitality Industry - UK, USA and APAC Regional Analysis
AQ
More news
Financials (GBP)
Sales 2019 24 691 M
EBIT 2019 1 855 M
Net income 2019 1 283 M
Debt 2019 3 263 M
Yield 2019 2,07%
P/E ratio 2019 24,2x
P/E ratio 2020 22,3x
EV / Sales2019 1,39x
EV / Sales2020 1,31x
Capitalization 31 116 M
Chart COMPASS GROUP PLC
Duration : Period :
Compass Group plc Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends COMPASS GROUP PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 1 837,17  GBp
Last Close Price 1 961,50  GBp
Spread / Highest target 12,3%
Spread / Average Target -6,34%
Spread / Lowest Target -23,5%
EPS Revisions
Managers
NameTitle
Dominic Blakemore Chief Executive Officer & Executive Director
Paul Steven Walsh Non-Executive Chairman
C. Palmer Brown Chief Financial Officer
Gary R. Green Executive Director & CEO-North America Region
John George Bason Senior Independent Director