Centerplate Announces Management Led Buyout & Agreement with Olympus Partners

STAMFORD, Conn., Sept. 26, 2012 /PRNewswire/ -- Centerplate, the largest hospitality partner to North America's premier sports stadiums, convention centers and entertainment venues, announces today a management led buyout of the company from former majority owner Kohlberg and Company with the transaction slated for Q4 2012. The buyout, spearheaded by Centerplate's President and CEO Des Hague, will be completed in partnership with Stamford, Connecticut based Olympus Partners. Centerplate, named the fastest growing hospitality group in the country by Nation's Restaurant News in 2011 will now see an infusion of resources which will accelerate Centerplate's growth and innovation strategy.

The management led buyout will see Centerplate's senior management team remaining intact, providing stability as well as the continuation of Centerplate's highly successful growth strategy. Under the leadership of CEO Des Hague, Centerplate has realized significant revenue growth, with major new business wins including the University of Notre Dame, the New Orleans Convention Center, and the new San Francisco 49ers stadium.  

"This is a landmark day for Centerplate. Our recapitalization and new ownership structure will create a powerhouse company with the leadership, resources and strategy to grow, innovate and dominate the event hospitality industry," says Centerplate CEO Des Hague. "We are entering this partnership with the knowledge that our business strategy is working, and we are, more than ever, perfectly positioned to serve our current clients, and compete for new ones."

About Centerplate
Centerplate crafts and delivers "Craveable Experiences. Raveable Results." in over 250 prominent entertainment, sports and convention venues across North America – annually serving over 100 million guests. Centerplate has provided event hospitality services to 15 official U.S. Presidential Inaugural Balls, 13 Super Bowls, 20 World Series, the 2010 Winter Olympic Games, and the largest plated dinner in history at the Alpha Kappa Alpha Centennial Celebration. Last year, the company was named the fastest growing restaurant/ hospitality group in the country by Nation's Restaurant News. Visit the company online at www.centerplate.com.

SOURCE Centerplate

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