The joint venture is being formed by merging Compass Group’s Middle East operations with that of United Emirates based foodservice company Abu Dhabi National Hotels (ADNH). The new company will offer foodservice management across a wide range of sectors including business and industry, education, healthcare, oil and gas onshore and offshore, defence, leisure, retail and airports.
The Middle Eastern market is estimated to be worth in excess of US$1.3 billion and is comparatively underpenetrated by foodservice operators. The total investment made by Compass Group is US$63.5 million and the new company will be led by Chief Executive, Jerome Marrel, previously Regional Vice-President, Compass Group Middle East and India Miguel Ramis, Divisional Chief Executive, Compass Group, said: We are delighted to be joining forces with ADNH to form the major foodservice company in the Middle East. The market has huge potential and I am confident that our combined skills will enable us to increase our presence in all market sectors.
Michael J Bailey, Group Chief Executive, will be in Abu-Dhabi on 27th February 2001 to host the official launch of the new venture. The Middle East market is defined here as including Saudi Arabia, UAE, Oman, Kuwait,Quatar, Iran, Syria, Bahrain and Jordan. Approximately 35% of the market is contracted out.
