Compass Group North America has purchased a 49% interest in AEG Facilities, a firm that operates sports and entertainment facilities in the U.S. and around the world. The two companies had enjoyed a relationship since 1999 when Compass subsidiary Levy Restaurants began operating foodservice at AEG's Staples Center arena in Los Angeles.
"AEG is an exciting, forward-thinking company behind state-of-the-art facilities around the world," says Compass North America President/CEO Gary Green. "We are thrilled to build upon the success of our relationship and continue to grow together domestically and internationally."
A subsidiary of sports/entertainment conglomerate AEG, AEG Facilities manages the parent firm's iconic facilities in locations like Los Angeles, London, and Berlin, as well as dozens of third-party venues around the globe. These include arenas from Charlotte, NC, to Sydney, Australia, stadia from Recife, Brazil, to Stockholm, Sweden, and convention centers from Doha, Qatar to Brisbane, Australia.
U.S. sites AEG owns or is affiliated with include the Staples Center, the Best Buy Theater on Times Square in New York City, the Sprint Center in Kansas City, the Rose Garden Arena in Portland, OR, the Target Center in Minneapolis, AmericanAirlines Arena in Miami, the Time Warner Center in Charlotte and the KFC Yum! Center in Louisville.
“From day one, AEG and many of our venues have had a long and successful relationship with Levy and Compass,” says AEG President/CEO Timothy Leiweke. “We have relied on and trusted Compass as the food and beverage providers in many of our largest properties and in turn, they have had a first-hand opportunity to see how AEG Facilities operates and provides services to the most successful venues in the world. This partnership makes great sense due to the synergies that already exist between our two companies. There will be no change in the way we operate and continue to grow AEG Facilities into the biggest and best management company in the world. We appreciate and share Compass’ commitment, trust and vision for this exciting venture.”