Food services firm Aramark to buy Avendra, AmeriPride in $2.35-bn deal

Aramark said it would pay Avendra $1.35 billion, or $1.05 billion in net purchase price after adjusting for anticipated relax

Food services company Aramark said on Monday it would buy Avendra, majority owned by Marriott International Inc, and uniform and linen supplier AmeriPride Services for a total of $2.35 billion, before tax benefit adjustments. Aramark said it would pay Avendra $1.35 billion, or $1.05 billion in net purchase price after adjusting for anticipated tax benefits.

AmeriPride's purchase price of $1 billion came in at $850 million after adjusting for anticipated tax benefits, Aramark said. Separately, Marriott, which owns a 55 per cent stake in Avendra, said it would receive about $650 million from the sale. Aramark also added it expected cost synergies of about $40 million from the purchase of Avendra and about $70 million from AmeriPride.