The Pratt family has agreed a deal to sell it's chain of shops and cafes to the listed US catering group Aramark for a price rumoured to be upwards of
Avoca’s new owners plan to “internationalise” the brand, raising the prospect of eventual expansion into the US market, where Aramark is listed on the New York stock exchange.
The deal is subject to approval from the Competition and Consumer Protection Commission, owing to Aramark Ireland’s extensive catering interests in this country. Aramark operates in 23 countries overall.
The sale, the result of talks ongoing since the spring, was finalised in Dublin yesterday. Simon Pratt, the managing director and second generation of Pratts to run the business, informed its founders, his parents Donald and Hilary Pratt, last night.
Mr Pratt’s siblings, Ivan and Vanessa, will remain involved in Avoca along with the founders, while Simon Pratt will retain his current role and he will also join the senior management team of Aramark Ireland.