Friday, September 19, 2008
Centerplate Merges With Kohlberg & Company
Overnight, it was reported and Centerplate has now confirmed that they will sign a Merger Agreement with an affiliate of Kohlberg & Company--a private equity firm. Here is the Official Press Release. Expected to be completed in the first quarter of 2009, no word on how this agreement might affect New Nationals Park and Centerplate's deal with Our Washington Nationals.
For some time, Centerplate has been looking for partners to enhance their market share. And at one point, Aramark was considered a serious suitor. Although Centerplate had told me last month--they were looking in another direction. Apparently, that information given was correct.
This afternoon, Team President Stan Kasten mentioned The Kohlberg Agreement to me while we both were attending The ESPN ZONE Jim Bowden/Mike Rizzo Meet & Greet with Charlie Slowes.
On this merger topic, Mr. Kasten said: "We are obviously monitoring this deal closely as to it's affect on our operation."
Do you have the option to Opt-Out of the original deal due to this merger? And work with someone else? (SBF)
"I am not going to get into any specific details, but we are exploring all our options. This just became official overnight and there is a lot of information to shift through."
PS--Also, I asked Mr. Kasten what happened to The Taste of The Majors idea that was originally suppose to be incorporated into New Nationals Park. When a visiting team was playing at New Nationals Park this season, one signature item from that team's home park would be added to our stadium menu for that series. As most have come to realize--that did not happen in 2008. Mr. Kasten said Taste of The Majors is a Branded Name--of Aramark--and for various reasons this food option did not work out. But, he hopes to revive the idea in some aspect in 2009.
PSS--By The Way, this ESPN Zone Jim Bowden/Mike Rizzo chat was quite excellent. Nearly One Hour of quality stuff, good questions and honest give and take answers. Well worth the time to attend. It's going to take me a day or two to write up the transcript, but once completed--it's going to be worth a complete read. A tremendous amount of stuff on Our Washington Nationals Farm System, Drafting, Near and Long Term Future.