Aramark to Go Private in $8.3-Billion Deal

Philadelphia -- Aramark Corp., the giant, institutional services company, has agreed to be acquired by a group of private investors in a deal valued at $8.3 billion.

Aramark's chairman and chief executive, Joseph Neubauer, is leading the buyout effort, according to today's announcement. Other investors include private equity funds managed by GS Capital Partners, CCMP Capital Advisors, J.P. Morgan Partners, Thomas H. Lee Partners, and Warburg Pincus LLC.

Aramark Harrison Lodging, an Aramark division, operates more than 70 conference centers and university hotels in North America and Europe along with 48 conference centers in Japan through a joint venture.

Aramark also provides catering and other institutional services to more than 40 convention centers, nearly 80 sports venues, and at 10 national parklands throughout the country.

In addition to its businesses related to the hospitality industry, Aramark provides food service to more than 420 public and private school districts combined throughout the United States; food and uniform services to more than 475 correctional facilities in North America; and food and uniform services to more than 1,300 healthcare facilities. The company employs approximately 240,000 people in 20 countries.

The transaction is expected to be completed by late 2006 or early 2007 and is subject to shareholder and regulatory approvals.