August 7, 2024, 11:47
Compass India Food Services, a wholly owned subsidiary of the $40 billion British Compass Group Plc, provides catering and contract catering. It acquired a 70% stake in ICS Foods Pvt Ltd, a Delhi-based food and beverage catering company.
The transaction was verified by ET through Compass Group India Managing Director Vikas Chawla. Returning to work after COVID-19 is a big story, he added. “People will be back to work for at least three days, which helps our businesses,” he said.
According to Chawla, the organization will make additional acquisitions in the coming months. In addition to actively pursuing discussions with other potential corporations with synergies, he said, “We are at a CAGR of 30% in the foodservice sector with the acquisition of ICS. and we are in a 25% expansion through acquisitions.
ICS’s online page indicates that the company uses advertising kitchens on-site to offer food to Dabur, Samsung, Honda and Maruti within its facilities.
Compass Group acquired food generation company SmartQ in 2021. SmartQ offers centralized and automated billing for the coffee shop industry.
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