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Thebe Tourism acquires a stake in Compass SA |
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Friday, 23 April 2010 15:54 |
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Thebe Tourism acquires a stake in Compass SA
Thebe Tourism Group (TTG) has concluded the purchase of a 25% stake in Compass Group Southern Africa. The 25% equity stake replaces Kagiso and Khulani’s combined 30% stake in Compass SA.
With more than 360 000 employees in 64 countries and annual sales of £22bn, Compass Group PLC, a British company, is the largest food services company in the world.
Compass Group Southern Africa was created in 1997 through the acquisition of a 70% stake in Kagiso Khulani Food Services (KKS). It soon became the largest BEE-empowered food services company in South Africa, with an annual turnover of R1.5bn – employing more than 7000 employees.
Thebe Tourism Group CEO Monwabisi Fandeso says: “This partnership is momentous as it expands Thebe Tourism’s footprint in the hospitality industry and serves to reinforce our status as the pre-eminent black-owned tourism and hospitality group in South Africa.
“There are obvious and clear synergies between the activities of the Compass Group and TTG. Our immediate task is to find and exploit these and other synergies to our mutual benefit.”
Monwabisi Kalawe, Country Managing Director for Compass SA, says: “Thebe is a huge player in South Africa’s tourism industry and there are enormous new business opportunities for Compass.
“We chose Thebe very carefully from a host of potential partners. Thebe brings vast experience to our business through its breadth of investment and quality of management.”
More about Compass Southern Africa
The Compass SA Group comprises seven divisions:
• Kagiso Khulani Supervision Food Services (KKS) is the leading food services company operating across the Southern African Development Community (SADC). The core business deliverable of this division is the management and delivery of food and beverage services to a variety of organisations, from huge corporates to individual private schools.
• All Leisure Travel with restaurant units operating at OR Tambo Airport, Cape Town International Airport and Bloemfontein and George airports, this unit focuses on creating memorable and unique food experiences for passengers.
• Compass Game Park Services manages all restaurants and catering in the Kruger National Park.
• The House of Bonne Cuisine and Town and Country Cuisine are high-end, fine dining companies that cater for prestigious sporting and conference venues.
• Gham Gourmet focuses on menutainment, where fresh, world-class food is prepared in front of clients.
• ESS offers non-food services including office and outdoor services, cleaning, building operations, maintenance and project management
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