UK-Based Compass Group Buys Tirumala Hospitality
Uk-based Compass Group Plc has acquired Pune-based Tirumala Hospitality Services Pvt Ltd from Ramkrishna Mankari and his family, who are the promoters of the firm.
Tirumala Hospitality Services is a strong regional player in the foodservice industry in western India, specialising in the provision of catering services to the business and industry sector.
Tirumala Hospitality had gross assets of Rs.10.2 Cr as on 31 March 2010 with revenue for the 12 months to March 31, 2010 of Rs.26.98 Cr.
Transaction Reference: Wall Street Journal
Founded in 1997, Tirumala started its services with a single contract at Kolhapur-based Shivaji University. It is engaged in supply of food and management services and also provides on the job employee training for food production, service & housekeeping. Its current clients include LG Electronics India, SKF Bearings, National Panasonic, Kinetic Engineering.
Compass, listed on the London Stock Exchange, is a leading food services player with a net income of $926 mn in 2009.
Compass Group had a presence in India through a JV with Radhakrishna Hospitality Services Group, which Compass got through its acquisition of Accor group unit Eurest in mid-90s. This JV ended in 2008 when Radhakrishna bought Compass' stake as it wanted control in the company.
French food services player Sodexo then acquired Radhakrishna Hospitality for $100 mn in March 2009.
| Readers' Comments | Post a Comment >> |
KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 17/08/10 | Tirumala Hospitality - Compass Group Plc | M&A | Compass Group Plc | - |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 16/05/12 | Private Equity | HSBC India Alpha (Mauritius) Limited | Speciality Restaurants Private Limited | 4.88 | Completed |
| 02/05/12 | Private Equity | APG Fund | Lemon Tree Hotels Private Limited (Krizm Hotels Private Limited) | 123.34 | Completed |
| 25/04/12 | Private Equity | New Silk Route Partners LLC | Adiga Fast Food Private Limited | - | Completed |
| 19/04/12 | M&A | Samhi Hotels Private Limited | Royal Orchid Ahmedabad Private Limited (Formerly Satkar Realties Private Limited) | 12.91 | Completed |
Company |
||||
| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Tirumala Hospitality Services Private Limited | Ramkrishna Mankari Mukta Mankari |
139, East Veli ST, Madurai-625001. Tamil Nadu, India. | MAYFAIR BANQUETS PRIVATE LIMITED | www.tirumalasevenhills.com |
| Dealforwards |  |
| May 11, 2012... | Panasonic Acquires 76.2% In Firepro Systems |
|
| May 14, 2012... | OCS Systems Acquires Lighthouse Funds Backed Radiant Hospitality |
|
| May 14, 2012...1 |  |
India Value Fund May Invest Upto R500Cr In Manipal Hospitals |
| May 14, 2012... | Jain Irrigation Acquires NaanDanJain |
|
| May 11, 2012... | EWDL To Raise R250Cr Through PE Route |
|
