December 4, 2015 |
Aramark shares closed Wednesday at their highest level since the firm went public two years ago. Shares of the Philadelphia food-service provider gained 2.95 percent, or 98 cents, to close at $33.86, one day after Aramark impressed analysts with increased projections of higher profit margins over the next three years. At its first-ever investor day, Aramark officials explained how they would reduce $3 billion in annual food costs and $6 billion in labor costs to boost the company's profit margin to 7.2 percent from 6.2 percent.
March 31, 2000 |
Aramark Corp. agreed yesterday to acquire the food-and-beverage concessions and venue-management units of Ogden Corp. for $236 million in cash and debt. Aramark would pick up 140 contracts to provide concessions at several large ballparks and arenas in the country, including Veterans Stadium and the Waterfront Entertainment Centre in Camden. The acquisition is the second-largest for Aramark, which is based in Center City. It includes $11 million in assumed debt, and is expected to close in the calendar second quarter, both companies said.
May 2, 2006 |
Aramark Corp.'s shares soared yesterday after the Philadelphia food-service company received a $5.8 billion cash buyout offer led by chairman and chief executive officer Joseph Neubauer. Neubauer and a group of private-equity firms offered $32.00 a share, a 14 percent premium over Friday's close of $28.11. Aramark's publicly traded class B shares zoomed past the offer price to close yesterday at $33.90 a share - a 20.6 percent, or $5.79, gain from Friday. "The offer seems a bit low to us," Morgan Stanley analyst Christopher P. Gutek said in a note to investors.
July 12, 2003 |
The chairman and chief executive of Aramark Corp., Joseph Neubauer, and his wife, Jeanette, have pledged $1 million to the Philadelphia Museum of Art to endow the museum's senior conservator job, to be called the Neubauer Family Chair of Conservation. The job is held by P. Andrew Lins. The donation matches a grant from the Andrew W. Mellon Foundation to help the museum endow its senior positions. H.F. "Gerry" Lenfest, chairman of the museum's board of trustees, said that since the museum began its current capital campaign, it has received money to endow six senior staff positions and five fellowships.
November 22, 2010 |
For a $12.6 billion company, Aramark Corp. sure is quiet about when it has a strong year. But the Philadelphia food-service provider and uniform-rental company did increase sales for its fiscal year ended Oct. 1 by 2 percent. Not bad in a year when revenue growth has eluded most major companies. Gimme Credit L.L.C. analyst Vicki Bryan wrote in a note that it was the first time in years revenue was up in all of Aramark's business segments, even its uniform and career-apparel unit, which she described as "long-struggling.
June 25, 2009 |
Bundles of federal stimulus dollars are earmarked to make school cafeteria food more nutritious and school buildings more energy-efficient. Philadelphia-based Aramark Corp. stands to benefit from that windfall and from new efforts by schools to economize - if it can convince supervisors that a for-profit enterprise will act in students' best interest. Aramark manages food service, facilities, or both for about 500 school districts across the country. (But not Philadelphia's.) Dennis Maple runs the company's K-12 arm, which serves 2.8 million meals a day to schoolchildren and cares for 153 million square feet of space in schools.
November 28, 1995 |
A global giant that dishes out food and drink to Olympics athletes, sports fans and schoolchildren will likely add the Chester County Prison to its client roster. The Chester County Commissioners today are expected to award a $795,101 food service contract for the prison to Aramark, the low bidder for a job that has been done by county employees. County Government Services Director Wayne Rothermel said the county can expect $132,000 in savings next year by contracting out the service, primarily due to the economies of scale a company as large as Aramark can offer.
November 8, 1997 |
Aramark Corp. yesterday said it would buy back its outstanding stock and become fully owned by company managers. The Philadelphia food-service company has been privately controlled since 1984, but about 20 percent of its shares are held by outside institutions and individuals. Aramark said it will spend $440 million to repurchase those shares and about 30 percent of the company stock owned by its employee benefits plans. None of the outstanding shares are traded on a public stock exchange.
January 26, 2010 |
They scrubbed. They sanitized. They apologized. They trapped mice by the dozens. And still it wasn't enough. Yesterday, the Philadelphia-based firm that operates the Capitol cafeteria faced a panel of state lawmakers, many of whom were still steaming over unsanitary conditions that led to a three-week closing of the eatery. Some members of the House state government and agriculture committees accused Aramark - one of the largest food-service providers in the nation - of "betraying the public's trust" for allowing conditions in the restaurant to deteriorate to the point where it was ordered closed while problems were cleaned up. "I feel as if a disgusting joke was played on me and the people I represent," said Rep. Karen Boback (R., Columbia)
October 5, 2001 |
Aramark Corp. said yesterday it had signed an agreement to acquire ServiceMaster Co.'s facility-services business for $800 million. Aramark, which provides food, child-care and laundry services worldwide, employs 6,000 people at its headquarters on Market Street in Philadelphia. The privately held company reported sales of $7.3 billion and net income of $168 million for fiscal 2000. It employs 185,000 people worldwide. ServiceMaster's Management Services group, based in Downers Grove, Ill., serves institutional health-care, education and business sectors and has 18,000 employees.