7th Aug 2008 - 00:00
Abstract
Elior UK has confirmed the purchase of the remaining 49% of its shareholding in sports, stadia and leisure catering specialist, Azure.
The company first bought a majority shareholding in the business from Charlotte Ventures Ltd in 2004 to increase its presence in the sports and leisure market. Azure currently provides premium catering and hospitality in partnership with some of the UK's most prestigious sports venues including Glasgow Rangers FC, Nottingham Forest, Kempton Racecourse and Durham County Cricket Club. Catherine Roe, Managing Director of Concessions for Elior UK commented on the acquisition: "This strategically important move will primarily allow Azure to better leverage the significant backing that Elior offers as a top five catering company, whilst retained its focus as a sector specialist." Adam Elliott, Divisional Director for Concessions added: "We have a long and established heritage in sports and leisure sector and some high profile clients. We believe that this move will not only benefit the company in access to investment and expertise, but will provide us with the complete independence to broaden our offer and focus on growth."