The global retail sector is undergoing a profound transformation. Especially as the sourcing of fruit and vegetables becomes increasingly global, managing the supply chain becomes ever more important in the marketplace. This is one major reason the companies like Sodexo is expanding its global business with acquisitions of major food and beverage corporations.
Headquartered at the Paris suburb of Issy-les-Moulineaux, the French food services and facilities management company Sodexo has signed an agreement to acquire Centerplate for 675 million US dollars from Olympus partners. Centerplate, Inc. a provider of food and beverage, merchandise and hospitality services at sports facilities, convention centers and entertainment facilities in the United States, the United Kingdom, Canada and Spain. Apart from all this the company also serves stadiums and arenas, annually hosting more than 116 million guests across its portfolio of premier venues for marquee events, including 14 Super Bowls, 36 U.S. Presidential Inaugural Balls, All-Star and Championship games for professional football, baseball, basketball, hockey, soccer, collegiate athletics, and many of North America's largest conventions. The acquisition is believed to help Sodexo in emerging out as the leader in Sports and Leisure globally and the combined business will be lead by Chris Verros, CEO of Centerplate. Through its retail services and the tailored food and beverage programs both the companies are trying to expand its services. Sodexo, the global leader in services that improve the Quality of Life serves around 75 million customers each day.