Turnover At Catering Company CH&Co Increases 19%
CH&Co, the independent hospitality caterer with over 750 locations across the UK and Ireland, has posted a 19% increase in turnover to £286 million for the financial year that ended on December 31, 2018.
Reflecting on the year, the group noted that there was no merger and acquisition activity in 2018, but the integration of the 2017 mergers with Harbour & Jones and Concerto Group was completed.
"2018 was another strong year for CH&Co and all of the M&A growth of previous years was successfully bedded in," Bill Toner, chief executive of CH&Co, said. "We introduced a simplified group structure and undertook a complete rebranding to focus on seven core areas – workplaces, destinations, events, livery, venues, education and healthcare – and this was well-received by clients and team members alike."
Resilient Through Uncertainty
Toner added that the performance of the company continues to be strong through economic uncertainty, and noted that the group has "a good track record of successfully growing [its] business through merging with like-minded companies".
He said, "Economic uncertainty, particularly surrounding Brexit, continues to be a challenge for us and many of our clients, but we are a resilient company in a resilient industry and I am confident that we can weather any storms that may come our way.
"Of course, 2019 has also been an exciting year for us so far with the merging of our Scottish business with Stirling-based Inspire Catering, and last month's acquisition of Gather & Gather and Creativevents from Mitie. We've also been delighted to welcome our new equity partners, Equistone Partners Europe, who share our vision for the company's future in foodservice and will support us in our growth ambitions."
© 2019 Hospitality Ireland – your source for the latest industry news. Article by Aidan O'Sullivan. Click subscribe to sign up for the Hospitality Ireland print edition.