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.
September 23, 2004 |
Aramark Corp. chief executive officer William Leonard abruptly resigned his posts yesterday and was replaced with the company's largest shareholder and former CEO, Joseph Neubauer. It was a stunning change of course for Aramark, the Philadelphia food-service and outsourcing giant with more than 200,000 employees, who run boilers in hospitals, cook hot dogs at professional sport stadiums, stock vending machines with salty snacks and sodas, and do many other things. The company, which had revenue of about $9.5 billion in 2003, endured a sharp drop in its stock price over the summer.
October 29, 2003 |
William Leonard, 55, was named chief executive yesterday of Aramark Corp., the Philadelphia-based global food and facilities-management firm where he has worked for 21 years. When he takes over in January, he will become only the fourth CEO in the company's 44 years, succeeding Joseph Neubauer, 62, who has held the office since 1984. There will not be a lot of changes, Leonard said. "Joe and I think alike at work. . . . After work, we're as different as night and day. . . . He's symphony and opera.
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.
March 5, 2003 |
Aramark Corp., of Philadelphia, is selling its chain of child-care centers and schools for $265 million in cash and debt to a California company so it can concentrate on its faster-growing food service, stadium concessions and uniform rental businesses. Revenue in the child-care services division, which operates as Children's World Learning Centers, Medallion School Partnerships, and Aramark Work/Life Partnerships, fell by 2 percent, or $7.5 million, between 2001 and 2002, although it remained profitable.
December 12, 2001 |
Aramark Corp., the Philadelphia-based purveyor of work clothes, day care and stadium food, rejoined the New York Stock Exchange yesterday after a 17-year absence. Aramark's high-rise Market Street headquarters, topped by its "star-man" logo, is a familiar fixture on the Center City skyline. But its corporate staff totals only 115, and most of the company's 200,000 employees labor elsewhere - in more than 600 Children's World day-care centers, 350 college cafeterias, 165 public-arena food concessions, 200 laundry plants and depots, and clothing factories in low-wage Puerto Rico and Mexico, among other sites.
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.
July 18, 2001 |
Aramark Corp., which provides food, child-care, and laundry services worldwide, filed for an initial public offering of new class B shares that could raise as much as $600 million. The Philadelphia company did not set a price range for shares in the IPO. It also did not specify how many shares would be offered, but said that the total would be less than 20 percent of its outstanding shares. Aramark, which hopes to list the shares on the New York Stock Exchange under the ticker symbol RMK, valued the stock sale at $600 million for the purpose of calculating its fee to register with the Securities and Exchange Commission.
March 31, 2000 |
Philadelphia-based food services company ARAMARK Corp. announced yesterday it has agreed to acquire all of the food and beverage concessions and venue businesses of Ogden Corp. Ogden is the current concessionnaire at Veterans Stadium and the Sony-Blockbuster Music Entertainment Centre in Camden. Other customers include Wrigley Field, in Chicago, the MCI Center, in Washington, the Staples Center, in Los Angeles and the Conseco Fieldhouse, in Indianapolis. "The addition of these Ogden businesses and the outstanding quality of their customer base provide us with an opportunity to share our expertise and combine resources with these customers so that we can build a broader portfolio of unlimited partnerships," said Joseph Neubauer, Chairman and CEO of ARAMARK.
March 3, 2000 |
Greens, yellows, browns and whites. All the colors of the rainbow, and more. That's what Aramark served up during a preview to trumpet the Philadelphia-based food service company's 12th Olympic offering of gastronomic delights for world-class athletes to be served at the Summer Games in Sydney, Australia. Representing Asia will be grilled snapper with Szechuan spices; the United States, corn-crusted chicken breast with Tabasco green biscuit; Latin America, Cuban Adobe pork with Papaya Jicami slaw; and Europe, an array of fresh and seasoned breads, vegetables, cheeses, meats and fruits.