Centerplate bought by Olympus Partners
Press release says deal will accelerate Centerplate’s sustained growth.
Sept. 28—Centerplate, which manages foodservice at sports stadiums, convention centers and entertainment venues, announced today that it has been bought by Stamford, Conn.-based Olympus Partners.
The buyout was management led from former majority owner Kohlberg and Co., with the final transaction slated for the fourth quarter of 2012. Centerplate’s President and CEO Des Hague spearheaded the buyout. A Centerplate press release states that the company will now see an infusion of resources, which will accelerate Centerplate’s growth and innovation strategy.
Centerplate’s senior management team will remaining intact. Under the leadership of CEO Des Hague, Centerplate has seen significant revenue growth, with major new business wins including theUniversity of Notre Dame, the New Orleans Convention Center and the new SanFrancisco 49ers stadium.
“This is a landmark day for Centerplate. Our recapitalization and new ownership structure will create a powerhouse company with the leadership, resources and strategy to grow, innovate and dominate the event hospitality industry,” Hague, said in the release. “We are entering this partnership with the knowledge that our business strategy is working, and we are, more than ever, perfectly positioned to serve our current clients and compete for new ones.”