REG - Compass Group PLC - Compass Group PLC agrees to acquire Vermaat Groep

CompassAnnouncement

Tue 07:00

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RNS Number : 9286R  Compass Group PLC  22 July 2025

 

 

 

 Legal Entity Identifier (LEI) No. 2138008M6MH9OZ6U2T68

 

 

 

Compass Group PLC agrees to acquire Vermaat Groep

22 July 2025: Compass Group PLC (LSE: CPG), a global leader in food services,
today announces that it has agreed to acquire Vermaat Groep B.V. ("Vermaat" or
the "Company") for an Enterprise Value of approximately €1.5bn.

Vermaat is a leading premium food services business in Europe, offering
tailored on-site food concepts, delivered-in solutions and strong
consumer-focused retail expertise. Vermaat is a high-performing multi-sector
platform which will provide Compass with a unique opportunity for further
sustainable growth in Europe. The Company is a market leader in the
Netherlands, with a growing presence in Germany and France, all of which are
among Compass Group's top ten markets.

The Company is led by an outstanding leadership team which is reflected in its
excellent operational track record, delivering a compound annual growth rate
of nearly 20% over the last 15 years, and industry leading margins.  Its high
retention rate reflects the quality of the offer and strong customer
relationships. Vermaat is on track to generate sales of c.€700m with a
double-digit operating margin in 2025.

Following decades of leveraging acquisitions to build a high-growth market
leader in North America, Compass is deploying the same successful blueprint in
Europe to accelerate sectorisation. This new capability will enable the Group
to better capitalise on existing opportunities and to continue expanding in
Europe, where the total addressable market is worth at least €115bn, with
around half still self-operated. The exceptional Vermaat management team will
join Compass on completion and will continue operating the business on a
standalone basis, whilst leveraging the benefits of being part of a larger
Group.

In the first full year of ownership, the proposed acquisition is expected to
be margin and EPS accretive to Compass Group. Following completion, Compass
anticipates its post-acquisition leverage to be around 1.5x net debt to EBITDA
at the end of FY26, before deleveraging in FY27.

The strategic acquisition, combined with synergy benefits, is expected to
achieve returns ahead of the Group's cost of capital in the medium term, given
the high-quality nature of the business, its strong growth profile and ability
to create long-term shareholder value.

This transaction is subject to regulatory approval and consultation with the
Vermaat Works Council.

Dominic Blakemore, Group CEO of Compass, said:

 

"We are proud to announce this landmark acquisition. Vermaat is a
best-in-class food services business which will significantly strengthen
Compass Group's premium offer across Europe and will provide us with
exceptional leadership talent. This strategic acquisition represents a step
change in our core markets by creating a strong platform for expansion across
Europe".

Rick Zeelen, CEO of Vermaat, added:

 

"Compass and Vermaat are highly complementary businesses with similar cultures
and priorities. The leadership team remains fully committed to executing its
European growth strategy. Together, subject to regulatory approval, we will be
able to provide clients with an even more compelling proposition in a highly
attractive growth market, accelerating our premium offering in Europe. We look
forward to joining Compass and the exciting journey ahead."

 

Enquiries

 

 Investors           Agatha Donnelly, Simon Bielecki  +44 1932 573 000

 
        Press        Amy Shields                      +44 1932 573 000

Tim Danaher, Brunswick

                                +44 207 404 5959
 Website             www.compass-group.com

 

 

Notes

 

About Compass Group PLC

 

Compass Group is a global leader in food services, operating in around 30
countries, with around 580,000 employees worldwide and generating underlying
revenues of over $42bn (€36bn) for the 2024 fiscal year. The Company is
listed on the London Stock Exchange and specialises in providing food and a
range of support services across the core sectors of Business & Industry,
Healthcare & Seniors, Education, Sports & Leisure and Defence,
Offshore & Remote, with an established brand portfolio.

 

About Vermaat

 

Vermaat is a European leader in premium tailor-made hospitality solutions,
serving over 200,000 guests daily across 700+ locations. Established in 1978
in Utrecht, it has evolved from a humble family grocery shop into a market
leader in the Dutch food and hospitality sector, with significant presence in
France and Germany. Renowned for its culinary creativity, extensive
partnerships and unique guest experiences, Vermaat consistently pushes
boundaries through innovation, sustainability and entrepreneurship exemplified
by standout next-generation concepts such as Join Program.

 

Forward-looking statements

 

Certain information included in this Announcement is forward-looking and
involves risks, assumptions and uncertainties that could cause actual results
to differ materially from those expressed or implied by forward-looking
statements. Forward-looking statements cover all matters which are not
historical facts and include, without limitation, the direct and indirect
future impacts and implications of: public health crises such as the COVID-19
pandemic on the economy, nationally and internationally, and on the Group, its
operations and prospects; risks associated with changes in environmental
scenarios and related regulations including (without limitation) the evolution
and development of the global transition to a low carbon economy (including
increasing societal and investor expectations); disruptions and inefficiencies
in supply chains (such as resulting from the wars in Ukraine and the Middle
East); future domestic and global political, economic and business conditions
(such as inflation or the UK's exit from the EU); projections relating to
results of operations and financial conditions and the Company's plans and
objectives for future operations, including, without limitation, discussions
of expected future revenues, financing plans and expected expenditures and
divestments; risks associated with changes in economic conditions, levels of
economic growth and the strength of the food and support services markets in
the jurisdictions in which the Group operates; fluctuations in food and other
product costs and labour costs; prices and changes in exchange and interest
rates; and the impacts of technological advancements. Forward-looking
statements can be identified by the use of forward-looking terminology,
including terms such as 'believes', 'estimates', 'anticipates', 'expects',
'forecasts', 'intends', 'plans', 'projects', 'goal', 'target', 'aim', 'may',
'will', 'would', 'could' or 'should' or, in each case, their negative or other
variations or comparable terminology.

 

Forward-looking statements in this Announcement are not guarantees of future
performance. All forward-looking statements in this Announcement are based
upon information known to the Company on the date of this Announcement.
Accordingly, no assurance can be given that any particular expectation will be
met and readers are cautioned not to place undue reliance on forward-looking
statements when making their investment decisions. Additionally,
forward-looking statements regarding past trends or activities should not be
taken as a representation or warranty that such trends or activities will
continue in the future. Other than in accordance with its legal or regulatory
obligations (including under the UK Listing Rules and the Disclosure Guidance
and Transparency Rules of the Financial Conduct Authority), the Company
undertakes no obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events or otherwise.
Nothing in this Announcement shall exclude any liability under applicable laws
that cannot be excluded in accordance with such laws.

 

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