Compass has completed its largest acquisition, purchasing European food firm Vermaat for about 1.5 billion euros. Vermaat specializes in premium food services across offices, healthcare facilities, and cultural venues throughout the Netherlands, France, and Germany. The purchase is anticipated to bolster Compass's sales, as the company raised its annual earnings outlook to nearly 11% growth, previously forecasted to be a high single-digit increase. In midday trading, Compass’s shares rose by 5%, reflecting positive market sentiment towards the acquisition and its impact on overall growth.
Compass has struck its biggest ever deal, agreeing to acquire European upmarket food firm Vermaat for approximately 1.5 billion euros, enhancing its food services portfolio.
The acquisition of Vermaat is expected to contribute to annual sales growth, with Compass forecasting an increase in underlying earnings of nearly 11%, surpassing previous predictions.
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