Clearwater International advises Elior on the sale of Avenance to Compass

Alongside DC Advisory, Clearwater International has advised Elior, who rank third in the European contract catering market, on the sale of its wholly owned Dutch subsidiary, Elior Nederland B.V., operating under the name Avenance, the fifth largest contract catering company in the Netherlands, to Compass Group plc (Compass), the largest contract catering company in the world.

Elior’s 82,000 employees serve three million guests each day, at 15,000 restaurants and outlets in 15 countries. The company is active within the business and industry, education, healthcare and seniors, travel, leisure, and culture markets.

Avenance has a turnover of €95.5m and 1,350 employees. The company operates within the business and industry, education and healthcare markets. Customers include Schiphol, Ernst & Young, Ballast Nedam, and World Trade Center.

Compass has operations in over 50 countries and serves around four billion meals a year. The company is also listed on the London Stock Exchange.

Previously, Clearwater International advised Compass on the acquisition of a minority stake in ECS, the catering department of Philips Electronics. Clearwater International also advised VVC, a contract caterer at leisure, museum, and sporting locations, on its sale to Compass.