Monday, November 28, 2022

Rocket Food sold to Restaurant Associates

FRP Corporate Finance has advised luxury event caterer Rocket Food (Rocket) on its sale to premium hospitality brand Restaurant Associates, which is part of Compass Group UK & Ireland (Compass Group).

The acquisition will increase Rocket and Restaurant Associates’ presence in the luxury hospitality sector across the UK. The transaction will also support Rocket with developing its sustainability and supply chain credentials and provide the business with access to Compass Group’s training and apprenticeship schemes.

Based in Battersea, Rocket caters for private and corporate events, and is a preferred supplier at many of London’s most prestigious venues, including Kensington and Hampton Court Palaces, the V&A, the British Museum, and the Tate Modern.

The company was founded by brother and sister duo Michael Symonds and Caroline Hall in 2000, and today it employs 50 people.

Restaurant Associates operates across some of the UK’s most popular visitor attractions, including Glyndebourne, Hatfield House and Hever Castle. The brand is part of Compass Group, an international company that provides catering, cleaning, and facilities management services in more than 6,000 locations across the UK & Ireland.

Jon Dodge, FRP Corporate Finance partner, said: “The deal represents an exciting new partnership for Rocket Food and Restaurant Associates, and closely aligns two organisations renowned for their passion and commitment to providing the highest quality food.

“The corporate luxury events sector is experiencing rapid growth and is expected to generate £480 billion by 2030. With the strength of its offering and through its sale to Restaurant Associates, Rocket is well positioned to capitalise on this opportunity. We are delighted to have represented the owners of Rocket and congratulate them on having built a fabulous business.”

Michael Symonds, Managing Director at Rocket Food, added: “Our team at Rocket has a passion for exceptional food, creativity and service, all values that we share with Restaurant Associates. The new partnership will be a formidable offering for the clients we are proud to serve.”

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