727 Views

Compass Group 

“Market Cap $27.27 B As of May 2014

At a Glance

  • Industry: Restaurants
  • Founded: 1941
  • Country: United Kingdom
  • CEO: Richard Cousins
  • Website: www.compass-group.com
  • Employees: 506,699
  • Sales: $27.39 B
  • Headquarters: Chertsey

Forbes Lists

#553 Global 2000

  • #341 in Sales
  • #898 in Profit
  • #1339 in Assets
  • #405 in Market value
Profile

Compass Group Plc provides food and support services to customers in the workplace, in schools and colleges, hospitals, at leisure and in remote environments. It operates in following sectors: Business and Industry, Education, Healthcare and Seniors, Sports and Leisure, Defense, Offshore and Remote. Compass Group was founded in 1941 and is headquartered in Chertsey, the United Kingdom.

Compass Group History

Origin

Compass Group has its origins in a company which was founded by Jack Bateman in 1941 as Factory Canteens Limited and which subsequently became known as Bateman CateringBateman Catering and Midland Catering were acquired by Grand Metropolitan in 1967 and 1968 respectively and a management buy-out from Grand Metropolitan followed in 1987 when the Compass Group was formed.

Public Listing

Compass Group was first listed on the London Stock Exchange in 1988. Eurest, one of the company’s US subsidiaries, was launched in the USA in 1996 to provide diningservices to local, regional and national companies within the Business & Industry markets, including employee dining centers, on-site catering, vending, executive dining rooms, and other managed services.

Association with UN

Compass Group’s subsidiary, ESS, became a UN-registered food vendor in 2000 and then went on to win contracts to supply UN peacekeepers operating in Sudan, East Timor, Liberia, Burundi, Eritrea, Lebanon, Cyprus and Syria. The company bought Morrison Management Specialists in 2000 and in July of that year the company merged withGranada plc as part of a strategy to separate the media and catering interests of the latter. The two companies demerged in February 2001 to form Compass plc and Granada Media.

Compass Group became the World’s biggest catering firm by 2005. Meanwhile ESS was contracted by the U.S. Marine Corps, the 82nd Airborne Division, the British Ministry of Defence, the Coalition Provisional Authority, along with the major defense contractors Fluor, RMS, Bechtel, and most notably KBR (a subsidiary of Halliburton) under the U.S. Armytroop support contract called LOGCAP III to provide dining and construction services at desert bases and encampments in Kuwait and Iraq from the start of operations in 2003 to 2006.

In April 2006 Compass Group sold its roadside and travel catering businesses for a combined £1.82 billion.The transaction included the sale of 43 Moto motorway service areas to Australia’s Macquarie Bank for an estimated £600m. Compass’s Select Service Partners (SSP) travel concessions business was sold to companies controlled by private equity firm EQT Partners, for an estimated £1.2 billion. The company made further acquisitions in 2009 including Kimco and Lackmans in the USA, Plural in Germany and several McColls retail site leases in the UK.

Reorganization

In 2011 Morrison Management Specialist was re-organised into three sectors (Morrison Healthcare, Morrison Senior Living, Touchpoint Support Services). Then in 2013 the Czech branch of Eurest was listed as 10 of the “100 Best Czech Companies” in 2013. The company also acquired Integrated Cleaning Management in 2013.”

*Information from Forbes.com and Wikipedia.org

**Video published on YouTube by “swisscompasspeople