Home Fairfield Stamford’s Centerplate acquired by French firm for $675 million

Stamford’s Centerplate acquired by French firm for $675 million

Centerplate Inc. a provider of food and beverage, merchandise and hospitality services at sports facilities, convention centers and entertainment facilities, has been acquired by French firm Sodexo from Stamford’s Olympus Partners for $675 million.

centerplate sodexo
The ‘Pen at Safeco Field in Seattle.

With its executive offices in Stamford, Centerplate is the fourth-largest operator by revenues in the United States sports and leisure market. The company serves stadiums and arenas throughout the U.S., Canada, the U.K. and Spain, annually hosting more than 116 million guests across its portfolio of premier venues for marquee events.

Its activities have included 14 Super Bowls, 36 U.S. Presidential inaugural balls, all-star and championship games for professional football, baseball, basketball, hockey, soccer, collegiate athletics, and many of North America’s largest conventions.

Centerplate’s last 12-month revenues to June 2017 were $998 million.

Sodexo is a food services and facilities management company headquartered in the Paris suburb of Issy-les-Moulineaux. Its fiscal year 2016 revenues for the sports and leisure segment were €903 million ($1.06 billion).

The French firm said that the deal for Centerplate will more than double its footprint, and will strengthen Sodexo’s position in the North American market and in the U.K.

Centerplate CEO Chris Verros will lead the new combined business in the U.S.; its European operations will be integrated into Sodexo’s existing sports and leisure business in the region.

The acquisition is subject to customary regulatory approvals and is expected to be closed by the end of December.

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