Aramark files plans to go public again

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Posted: Monday, September 9, 2013 12:00 am

(AP) - Aramark Corp. filed paperwork Monday to take the foodservice company public for its third time with plans to raise up to $100 million.

The Philadelphia-based company first went private in 1984 to thwart a hostile takeover. The company went public again in 2001.

It was taken private for the second time in 2007, in a $6.3 billion buyout by an investment group led by then-CEO Joseph Neubauer. The group included the private equity units of Goldman Sachs and JPMorgan, along with private investment firm Thomas H. Lee Partners.

Aramark did not specify the timing of the IPO or number of shares to be offered in the regulatory filing, but said it intends to trade on the New York Stock Exchange. It plans to use proceeds to repay debt. It said the $100 million figure is just an estimate for calculating a filing fee and could change.

The company provides food, uniforms and other services to schools, hospitals, sports facilities and businesses throughout the country and for international events, like last year's London Olympics.

Its current CEO, Eric Foss, took over in 2012.

Aramark earned $104 million in 2012 on revenue of $13.5 billion.

© 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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