Tags: food | services | aramark | avendra | ameripride

Food Services Firm Aramark to Buy Avendra, AmeriPride in $2.35 Bln Deal

Image: Food Services Firm Aramark to Buy Avendra, AmeriPride in $2.35 Bln Deal
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Monday, 16 October 2017 08:10 AM

Food services company Aramark said on Monday it would buy Avendra LLC, majority owned by Marriott International Inc, and uniform and linen supplier AmeriPride Services Inc for a total of $2.35 billion, before tax benefit adjustments.

Aramark said it would pay Avendra $1.35 billion, or $1.05 billion in net purchase price after adjusting for anticipated tax benefits.

AmeriPride's purchase price of $1 billion came in at $850 million after adjusting for anticipated tax benefits, Aramark said.

Separately, Marriott, which owns a 55 percent stake in Avendra, said it would receive about $650 million from the sale.

Aramark also added it expected cost synergies of about $40 million from the purchase of Avendra and about $70 million from AmeriPride. 

© 2018 Thomson/Reuters. All rights reserved.

   
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Food services company Aramark said on Monday it would buy Avendra LLC, majority owned by Marriott International Inc, and uniform and linen supplier AmeriPride Services Inc for a total of $2.35 billion, before tax benefit adjustments.
food, services, aramark, avendra, ameripride
118
2017-10-16
Monday, 16 October 2017 08:10 AM
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