Food Industry
Industry: Email Alert RSS FeedCanteen Corp. buys Blue Ribbon assets
Nation's Restaurant News, Nov 15, 1993
SPARTANBURG, S.C.--Canteen Corp. has purchased the assets of Blue Ribbon Services Inc., a Philadelphia-based regional contract food and vending company.
Details of the transaction were not disclosed.
Blue Ribbon manages foodservice for 12 school districts, 16 corporate dining centers and 351 vending accounts in Pennsylvania, Delaware and New Jersey. The company has annual revenues of about $32 million.
The purchase of Blue Ribbon Services furthers Canteen's growth-by-acquisition strategy. Since 1991 the contract feeder has bought nine regional companies, each with a heavy emphasis on vending.
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Canteen, based in Spartanburg, S.C., is the $1.28 billion contract-feeding arm of diversified foodservice company Flagstar Cos. Inc.
Canteen has about 11,000 contract food, vending and recreation services accounts nationwide.
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