Global caterer Compass Group has announced the acquisition of Hong Kong company Shing Hin Catering Group from Mr Au-Yeung Kwan by its subsidiary Compass Group Hong Kong Limited.
Compass Group has strengthened its existing food services business within the Education and Business & Industry sectors in Hong Kong with this bolt-on acquisition which will reinforce the platform for further development into the fast growing Chinese market.
Shing Hin Catering generated annual revenues to 31 December 2010 of £12.7 million and gross assets at that date were £1.4 million.
Financial details of the deal were undisclosed.
Round-up of today’s M&A deals
- Australian coking coal producer Caledon Resources has agreed to buy a Chinese investment group having obtained Chinese regulatory approval
Value: £313.1 million
- N+1 Private Equity has entered a binding agreement to acquire 100 per cent of the share capital of Radiacion y Microondas (Rymsa) and 100 per cent of Teltronic
- DN Capital has completed the sale of Datanomic to Oracle