In an effort to boost its competitive advantage, foodservice vendor Aramark is set to buy the Avendra purchasing firm.
The deal, worth $1.35 billion, will give Aramark ownership of the hospitality services company, which was formed more than 15 years ago to combine the buying power of five large hotel chains, including Marriott and Hyatt.
“Combining Avendra’s powerful procurement capability with Aramark’s leading supply chain management expertise will bring increased buying scale and improved service levels to both Avendra’s and Aramark’s customers, while strengthening our industry reach and competitive positioning,” Aramark CEO Eric Foss said in a statement.
As part of its announcement, Aramark noted that it will also acquire uniform and linens company AmeriPride for $1 billion.