CI Capital Partners, New York, has purchased Galls Inc., the cafeteria and uniform-services business of Philadelphia-based Aramark Corp., for an undisclosed price. (CORRECTED: Previous version wrongly conflated sales and sale price.)
The deal follows Aramark's Aug. 29 announcement that it plans to pay $145 million for the Van Houtte office coffee service of Green Mountain Coffee Roasters, Waterbury, Vt., which also does business as FilterFresh, enlarging Aramark's Philadelphia-based food-service unit.
CI managing director Thomas Ritchie said in this statement that his firm plans to use Galls to buy other uniform-makers "as an active industry consolidator." CI boss Steven M. Lefkowitz said he will be "partnering with (Galls president) Larry Dismukesw and his seasoned management team."
PNC Financial Service Group's business credit arm financed the deal. Investment bank Stephens Inc and Philadelphia law firm Morgan Lewis & Bockius advised Aramark while Paul, Weiss, Rifkind, Wharton & Garrison advised CI Capital.