M&A Deal Summary

Aramark Acquires Avendra

On October 16, 2017, Aramark acquired business services company Avendra from Marriott for 1.4B USD

Acquisition Highlights
  • This is Aramark’s 4th transaction in the Business Services sector.
  • This is Aramark’s largest (disclosed) transaction.
  • This is Aramark’s 7th transaction in the United States.
  • This is Aramark’s 1st transaction in Maryland.

M&A Deal Summary
Date 2017-10-16
Target Avendra
Sector Business Services
Buyer(s) Aramark
Sellers(s) Marriott
Deal Type Divestiture
Deal Value 1.4B USD
Advisor(s) Goldman Sachs (Financial)
Latham & Watkins (Legal)

Target

Avendra

Rockville, Maryland, United States
Avendra LLC is a hospitality procurement services provider and hospitality expertise, purchasing power, services and software to help more than 8,000 customers impact the bottom line, improve operational performance, and better serve guests. Avendra LLC was founded in 2000 and is based in Rockville, Maryland

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Buyer(S) 1

Buyer

Aramark

Philadelphia, Pennsylvania, United States
Category Company
Founded 1959
Sector Business Services
Employees262,550
Revenue 18.9B USD (2023)
DESCRIPTION
Aramark supply vehicle in Superior, Wisconsin.
Aramark supply vehicle in Superior, Wisconsin.

Aramark is a professional services, providing food services, facilities management, and uniform and career apparel to healthcare institutions, universities and school districts, stadiums and arenas, businesses and government departments and agencies. Aramark was incorporated in 1959 and is headquartered in Philadelphia, Pennsylvania.

DEAL STATS #
Overall 10 of 14
Sector (Business Services) 4 of 5
Type (Divestiture) 2 of 2
State (Maryland) 1 of 1
Country (United States) 7 of 10
Year (2017) 3 of 3
Size (of disclosed) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-16 AmeriPride Services

Minnetonka, Minnesota, United States

AmeriPride Services, Inc. is a textile rental and supply company. AmeriPride provides linen and towels, uniforms, floor mats, restroom and cleaning products to nearly 150,000 customers through rental and purchase programs. AmeriPride Services, Inc. was founded in 1889 and is based in Minnetonka, Minnesota.

Buy $1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-17 Aramark HCT

Philadelphia, Pennsylvania, United States

Aramark HCT is a provider of healthcare technology services, ranging from repair and maintenance to outsourcing of clinical engineering services, to more than 500 healthcare providers nationwide.

Sell -

Seller(S) 1

SELLER

Marriott

Bethesda, Maryland, United States
Category Company
Founded 1927
Sector Leisure
Employees411,000
Revenue 23.7B USD (2023)
DESCRIPTION
Entrance to Marriott's corporate headquarters in Bethesda, Maryland.
Entrance to Marriott's corporate headquarters in Bethesda, Maryland.

Marriott is a worldwide operator, franchisor, and licensor of hotels and timeshare properties under numerous brand names at different price and service points. Marriott also operates, markets, and develops residential properties and provide services to home/condominium owner associations. Marriott was formed in 1927 and is based in Bethesda, Maryland.

DEAL STATS #
Overall 2 of 5
Sector (Business Services) 1 of 1
Type (Divestiture) 1 of 4
State (Maryland) 1 of 1
Country (United States) 2 of 5
Year (2017) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-21 Starwood Hotels & Resorts Worldwide

Stamford, Connecticut, United States

Starwood Hotels & Resorts Worldwide, Inc. is a hotel and leisure company with more than 1,270 properties in some 100 countries and over 180,000 employees at its owned and managed properties. Starwood is a fully integrated owner, operator and franchisor of hotels, resorts and residences under the renowned brands: St. Regis, The Luxury Collection, W, Design Hotels, Westin®, Le Méridien, Sheraton, Four Points by Sheraton, Aloft, Element, and the recently introduced Tribute Portfolio™. Starwood was formed in 1969 and is based in Stamford, Connecticut.

Buy $13.6B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-18 Elegant Hotels Group

Saint James Parish, Barbados

Elegant Hotels Group Plc is an upscale hotel operator in Barbados, with five hotels representing almost 25% of all upscale rooms on the island. The group also includes the renowned Daphne's restaurant.

Buy $199M
Mergr

Product

Company

Legal