Food services company Sodexo is considering acquiring fellow food service rival Aramark, Bloomberg News reported earlier this week. If a deal were to come about, it would be big news indeed, as the two companies are giants in the foodservice industry, serving millions every day around the globe in colleges, schools, hospitals, sports venues and more. Over the summer, Sodexo provided foodservice for the Paris Olympics. Both companies also act as franchisees for restaurant chains on college campuses and in other venues.
According to the Bloomberg article, Sodexo has reportedly been discussing acquiring Aramark over the past few months to grow its presence overseas.
After news of the rumored acquisition broke, Aramark shares spiked by as much as 13% in after-hours trading in New York. Meanwhile, Sodexo shares dropped by as much as 14% during early Thursday morning trading.
Aramark and Sodexo declined to comment on the rumors of the merger for this story.
Sodexo, based in France, was founded in 1966 by French businessman Pierre Bellon. Today, it provides food services and facilities management for various onsite sectors, including K-12 schools and colleges, in over 80 countries across the globe.
Aramark was established in 1959 by William Fishman and brothers Davre and Henry Davidson. The company is based out of Philadelphia and, like Sodexo, provides food services and facilities management for schools, hospitals, corporate offices and more.
This article originally appeared on FoodServiceDirector.com, a sister publication of Restaurant Business.
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