Backed by Olympus Partners, Centerplate CEO Des Hague is organizing a management-led buyout of the concessions giant, with Standard & Poor’s reportedly valuing the deal at $550 million for controlling stakeholder Kohlberg & Co.
Both Centerplate and Olympus are located in Stamford, while Kohlberg has its offices in Mt. Kisco, N.Y. Kohlberg took Centerplate private in 2009 for $200 million, with Centerplate then growing through the acquisition of Boston Culinary Group.
Centerplate handles food service at some 250 stadiums, convention centers and other venues in the United States, including Webster Bank Arena at Harbor Yard and the Ballpark at Harbor Yard in Bridgeport.
“This is a landmark day for Centerplate,” Hague said, in a prepared statement. “Our recapitalization and new ownership structure will create a powerhouse company with the leadership, resources and strategy to grow, innovate and dominate the event hospitality industry.”
This past summer, the company announced it had created a farm near the Colorado Convention Center to supply fresh produce.
