BETHESDA, Md.—American Capital, Ltd. (Nasdaq: ACAS) ("American Capital" or "the Company") announced today that its portfolio company SMG Holdings, Inc. ("SMG") has acquired Premier Food Services ("Premier"), a provider of outsourced food and beverage services in southern California. SMG is a leading provider of entertainment and conference venue management services worldwide.
"As a global venue management company, SMG manages a large and broad portfolio of venues with exceptional diversity across event type, end market, attendee population demographic and geography," said Brian Graff, Senior Managing Director. "Its acquisition of Premier provides SMG with an attractive opportunity to expand its food service offering outside of its core portfolio of arenas, stadiums and convention centers into business dining, schools and colleges, fairgrounds and off-premise catering."
Founded in 1985, San Diego, CA based Premier is a provider of outsourced food and beverage services at entertainment venues, dining clubs, universities and businesses. Its customers range from the State of California to higher education clients and blue chip aerospace and technology firms and include Del Mar Fairgrounds and Race Track, one of the most attended thoroughbred racing venues in the U.S., and the University of California, San Diego Faculty Club. Premier's services include dining center and restaurant management, alcoholic beverage and food concessions, meeting facility management and special events management.