Compass Group sells food service business in Russia to local mgmt

MOSCOW. April 12 (Interfax) - Compass Group, the world's largest food service operator, has decided to sell its division in Russia to local management led by managing director Nicos Antoniades, the company said in a statement.

The deal, the price of which has not been disclosed, includes all of Compass Group's more than 100 facilities in Russia, including remote ones at deposits.

The Russian company will be renamed, but will keep the Cafetera and Delimarche brands. The paperwork is now being processed.

"Our team has been working in Russia for more than 18 years already and remains unchanged. We will continue to meet all our contractual obligations, preserve all the best from the international company and develop further," Compass Group Rus LLC head Nicos Antoniades was quoted as saying in the statement.

Compass Group Plc was founded in 1941 and is headquarters in the UK. The company provides design, organizational and management services for office canteens and restaurants with service, as well as other additional food-related services in offices, plants and business centers. The company's customers in Russia, according to its website, including Skolkovo, Mosenergo , Lukoil , Novatek , Metro and Sibur, among others.

Compass Group Rus closed 2021 with a net profit of 114.7 million rubles on revenue of 2.03 billion rubles, the SPARK-Interfax system showed.