MML backs £75m CH&Co Group merger

MML invested £17m in return for its "significant" minority stake. The founders of the two companies being merged, along with their senior management teams, also invested in the new structure. Senior debt was provided by HSBC and RBS.

MML and the group's management stated the contract catering sector was a particularly fragmented one, and that both businesses needed greater scale and investment capacity in order to compete with the largest companies in this space.

Company
The CH&Co group, comprising CH&Co and Host Catermasters (HCM), specialises in contract catering. It provides services to 400 outlets in the UK via its brands Ampersand, Charlton House, Lusso, Chester Boyd, Host, Catermasters and Couture. The group employs 4,500 staff and generates a combined turnover in the region of £200m.

People
The new business will be headed by HCM CEO Bill Toner, who will now be group CEO. CH&Co co-founders Robyn and Tim Jones will continue in their previous roles as founder and chairperson, respectively.

Ian Wallis and Richard Mayers worked on the deal for MML. They both joined the group's board as non-executive directors.

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