CH&CO

CH&CO is a leading catering group offering premium contract and hospitality services across the UK.

Having expanded into a group of market leading brands, CH&CO operates across more than 1,000 sites in the UK and Ireland, serving a diverse range of customers in workplace cafés and restaurants, schools, venues, visitor attractions, stadiums, events and healthcare settings.

Royal Warrant holders since 2013, the group is committed to operating in a responsible and sustainable way and holds the top-level three-star ‘Food Made Good’ rating from the Sustainable Restaurant Association.

VALUE CREATION

Equistone has worked alongside the management team to navigate the disruption caused during Covid lockdowns, not only with the injection of further capital, but by also supporting the team with its implementation of significant streamlining and cost savings initiatives and a new model for distribution into sites, which enabled a reduction in road miles.

During Equistone’s investment period, CH&CO completed five add-on acquisitions, including Gather & Gather and Creativevents, the workplace catering and events businesses of Mitie PLC, catering services providers, Company of Cooks and Vacherin, and most recently, Pabulum, which operates in the education sector and workplace caterers Blue Apple in August 2023. 

As a result, the group, which had suffered a significant decline in revenue versus pre-Covid figures, has since bounced back and is budgeted to achieve £482m for the year ending December 2023 and its workforce has expanded to more than 10,000 people across the UK and Ireland.

THE EXIT

 Equistone sold its Fund VI investment in CH&CO to Compass Group, the UK’s largest food and support services business.