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Issue Date: Vol. 53, No. 10, October 2013, Posted On: 9/10/2013

Aramark Files For $100 Million IPO

Emily Jed
TAGS: vending, vending machine business, Aramark Corp., Aramark IPO, Aramark initial public offering, foodservice, Aramark debt, ARA, Goldman, Sachs & Co., J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Morgan Stanley, Davidson Brothers, Automatic Retailers of America, Filterfresh, office coffee services

PHILADELPHIA -- Aramark Corp. has filed a registration statement with the U.S. Securities and Exchange Commission for a proposed initial public offering of its common stock to raise $100 million.

It will be the Philadelphia company's third IPO. The company's chairman, Joseph Neubauer, led a buyout in 1984 to fight off a hostile takeover. Neubauer later helped bring the company back to public ownership in 2001 before engineering its 2007 buyout with a group of private-equity firms.

Aramark said it plans to use proceeds to repay debt. It did not specify the timing of the IPO or number of shares to be offered in the regulatory filing.

Goldman, Sachs & Co., J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC and Morgan Stanley will act as joint book-running managers for the proposed offering.

The77-year-old company is headquarted at Aramark Tower in Center City, Philadelphia. It had $13.5 billion in revenues in 2012 and was listed as the 23rd largest employer on the Fortune 500. In May 2012, Aramark elected Eric J. Foss chief executive; Neubauer remains chairman. | SEE STORY

Aramark was founded as Davidson Brothers in 1936 by Davre and Henry Davidson, who began providing vending services to plant employees in the aviation industry in southern California. In 1959, Davre Davidson partnered with William Fishman to establish Automatic Retailers of America, which became publicly traded a year later in 1960. In 1969, Automatic Retailers of America officially became ARA Services, to reflect its growing range of businesses.

Two years ago, Aramark purchased Van Houtte USA (Filterfresh) from Green Mountain Coffee Roasters for $145 million. | SEE STORY

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