Aramark tells more about joint venture

Further details have emerged of the joint-venture deal between US-owned contract caterer Aramark and Ireland-based Campbell Bewley.

The companies announced the tie-up in November, but would not reveal the terms.

In a statement filed with the US Securities and Exchange Commission, Aramark said it had acquired the UK catering business of Campbell Bewley by issuing an 8% stake in a subsidiary.

The subsidiary was Aramark Catering, the joint-venture company formed by bringing together Aramark UK and Campbell Catering.

Aramark also acquired a 45% stake in Campbell Bewley's contract catering business in Ireland for about $19m (£13m) in cash.