Food giant eats up school meals supplier
A specialist education caterer which employs 1,500 people has been bought by food services giant Sodexo.
Oldbury-based Alliance in Partnership (AiP) has grown over 20 years to supply more than 75,000 meals a day in 400 schools and colleges based between North Staffordshire and the Home Counties.
It has been accelerating its growth in recent years through acquisitions, doubling in size in the last five years. The £26m-turnover business generated pre-tax profits of £614,000 in the year to August.
Sodexo, which employs 460,000 people and is the 19th-largest private employer in the world, has acquired the West Midlands business for an undisclosed sum.
Andrew Wilkinson, who heads Sodexo’s schools and universities business in the UK, said: “The AiP impressive client base of 418 schools will strongly complement our existing private sector schools business. The education sector presents a huge growth area for us and we have been looking to expand our presence in it for some time.”
AiP, which includes The Contract Dining Company and Class Catering Services, will continue to operate independently with managing director Paul Rogers remaining in charge.
Rogers said: “We share a similar ethos and we have a common heritage which is to serve healthy, nutritious food in a fun and welcoming environment.
“By joining forces with Sodexo, we believe that we can take our business to the next level and give the company and our people significant opportunities to grow.”
The deal provides an exit for private equity firm Key Capital Partners (KCP).
KCP managing partner Owen Trotter said: “It has been a pleasure to be a member of the AiP board and work with the team over the last four years. We are very pleased to have been able to support the company during this period of growth and we are proud to have been associated with the success of such a high quality business providing a worthwhile product.”
KCP was advised by Alantra (corporate finance), Mills and Reeve (legal) and Grant Thornton (tax). Sodexo was advised by Eversheds Sutherland (legal).
