TrustHouse replaced its private equity partner, Gryphon Investors, Inc., through the sale of a majority stake to Elior S.A, reportedly the fourth largest contract food service and concessions company in the world with revenues of around $7 billion.
The TrustHouse management team continues to hold a significant share in the firm with all of the senior management team retained. The company says it anticipates continued expansion in the US marketplace through a combination of acquisitions and organic growth..
The effects of acquisition, especially the 2012 deal for Valley Services, meant that 2013 was also in part a period of consolidation. However, Trusthouse also found time to enhance its menus with new offerings and nutrition compliance initiatives for the K-12 segment and a continued focus on organic and vegetarian/vegan products. There are also an array of new offerings for specific diet, diabetic, renal and weight loss needs in the senior dining segment..
Trusthouse was formed by the 2008 acquisitions of three formerly independent foodservice management companies and is headed by former Compass Group CEO Michael Bailey.
The firm concentrates on the institutional market, believing that segments like healthcare, education and corrections provide more stability than market-dependent ones like B&I and recreation.