Compass India Food Services Private Limited, a division of Compass Group, a global leader in the provision of food and facility management services has announced the acquisition of a majority stake in Delhi-based ICS Foods Private Limited.
ICS Foods is a well-known food and beverage catering company with substantial experience in the manufacturing sector.
This is the Compass’s second acquisition in India.
Compass offers end-to-end food services, onsite food preparation services, and catering to numerous Indian firms, including Nestle, Coca-Cola, Google, Microsoft, Netflix, and Procter & Gamble.
Vikas Chawla, Managing Director, Compass Group India, said, “We are thrilled to welcome ICS to the Compass Group India family. With the growth of the manufacturing sector in India riding on the back of initiatives like ‘Make-in-India’, this strategic move aligns perfectly with our growth journey.”
“By combining Compass Group India’s presence and culinary prowess with ICS Foods’ proven expertise in providing food services to the manufacturing sector, we will further strengthen our position in this area, while delivering high-quality, nutritious, and sustainable solutions that are truly valued by our clients and consumers.” He added.
Debashish Yadav, Chief Executive Officer, ICS Foods, commented, “We are incredibly excited to be a part of Compass Group India. This partnership presents an unparalleled opportunity to leverage our combined expertise in catering for the manufacturing sector.”
He further said that “With this move, we will be able to significantly expand our reach and capitalize on the growth in India. We are confident that together we can deliver exceptional value to our clients, setting new benchmarks for service excellence in the industry.”
Founded in 1983, ICS Foods serves over 70 clients across multiple manufacturing sites in India.
The ICS website states that the company uses on-site commercial kitchens to provide culinary services to Dabur, Samsung, Honda, and Maruti within their corporate buildings.
At major international athletic events like the 2010 Commonwealth Games in Delhi and the Badminton World Federation Tournament, ICS Foods has catered.
While As a part of Compass Group, one of the world’s largest food and support services suppliers, Compass Group India works with over 550,000 individuals in 33 countries to serve 5.5 billion meals annually.
A survey published on July 10 by the National Restaurant Association of India (NRAI) predicted that between 2024 and 2028, the food services industry in India would develop at a compound annual growth rate of 8.1%.
According to the research, the organized sector is predicted to develop at a rate higher than this, at 13.2%.
Date : 17th & 18th Aug, 2024
Time : 10 AM to 05 PM
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