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Article: Marriott International, Sodexho in Food Services Venture
- Article from:
- The Washington Post
- Article date:
- October 2, 1997
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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Marriott International Inc. of Bethesda yesterday announced
that it will merge its food service and facilities management
business with the North American operations of Sodexho Alliance SA,
a French catering company.
The combined entity, to be called Sodexho Marriott Services,
will be the largest company of its kind in North America, with
100,000 employees, 4,800 accounts and annual sales of more than $4
billion, according to the companies. Marriott International
shareholders will own 51 percent of the company, a stake valued at
about $550 million. Sodexho will control 49 percent, or about 124
million shares.
The merger values Marriott's food service business at about $2
billion and ...