LONDON: Compass Group PLC (LSE: CPG), a global leader in food services, said Tuesday it has agreed to acquire Netherlands-based Vermaat Groep B.V. for an enterprise value of approximately €1.5 billion, expanding its premium food offerings across Europe.
Vermaat is a multi-sector operator known for its customized on-site food concepts and consumer-oriented retail services. With a strong presence in the Netherlands, Germany and France—all among Compass Group’s top ten markets—the company is expected to generate around €700 million in sales with double-digit operating margins in 2025.
“This landmark acquisition significantly strengthens our premium offering in Europe and brings exceptional leadership talent into the Group,” said Compass CEO Dominic Blakemore.
Vermaat has achieved a compound annual growth rate of nearly 20% over the past 15 years and maintains industry-leading margins with high client retention.
The deal reflects Compass’s strategy to replicate its North American growth blueprint across Europe, where the total addressable food services market exceeds €115 billion—half of which remains self-operated. Vermaat’s management will remain intact and operate independently post-acquisition while leveraging Compass’s scale.
The transaction is expected to be margin and earnings-per-share accretive in its first full year. Compass projects post-acquisition leverage of approximately 1.5x net debt to EBITDA by fiscal year 2026, with deleveraging anticipated in 2027.
Regulatory approvals and consultation with Vermaat’s Works Council remain pending. Vermaat CEO Rick Zeelen said the companies share a cultural fit and a mutual growth agenda, calling the deal “a highly attractive opportunity” to enhance client offerings in Europe.