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UK-based Compass Group buys India's Tirumala Hospitality Services

by Press Trust Of India - 18/08/2010

UK-based Compass Group buys India's Tirumala Hospitality Services

"UK-based Compass Group Plc has snapped up Indian catering services provider Tirumala Hospitality Services Private Ltd for an undisclosed amount. "

The British food services firm has bought the Indian company from Ramkrishna Mankari and his family, it said in a statement today. However, the
financial details were not disclosed.

The statement noted that Tirumala Hospitality Services (THS) is a strong regional player in the food service industry in Western India, specialising in the provision of catering services to the business sector.

As of March 31, the gross assets of the acquired business stood at Rs 10.52 crore. The company's revenue for the full- year ended March 31 was Rs 27.16 crore.

According to THS' website, its clients include Wipro, LG Electronics, Infosys and General Motors, among others.

Compass Group, which specialises in food, vending and related services for its clients, had annual revenues of over 13 billion pounds for the year ended September 30, 2009.

More Details: http://www.hindustantimes.com/UK-based-Compass-Grp-buys-India-s-Tirumala-Hospitality-Services/Article1-588148.aspx