Acquisitions by food-service company total $2.35 billion.
Food-service company Aramark plans to acquire two closely held companies for a total of $2.35 billion, in its largest deals since going public nearly four years ago.
The company is buying Avendra LLC, which procures food, supplies and such services as landscaping for hotels and other institutions, for $1.35 billion; and AmeriPride services Inc., a supplier of uniform and towels, for $1 billion.
Aramark said it would pay Avendra $1.35 billion, or $1.05 billion in net purchase price after adjusting for anticipated tax benefits. AmeriPride’s purchase price of $1 billion came in at $850 million after adjusting for anticipated tax benefits, Aramark said.
Separately, Marriott, which owns a 55 percent stake in Avendra, said it would receive about $650 million from the sale. Aramark also added it expected cost synergies of about $40 million from the purchase of Avendra and about $70 million from AmeriPride.
