American Capital's portfolio company SMG acquires Premier Food Services
American Capital’s portfolio company SMG Holdings has acquired Premier Food Services, a provider of outsourced food and beverage services in southern California.
SMG is a provider of entertainment and conference venue management services worldwide.
"As a global venue management company, SMG manages a large and broad portfolio of venues with exceptional diversity across event type, end market, attendee population demographic and geography," says Brian Graff, senior managing director at American Capital. "Its acquisition of Premier provides SMG with an attractive opportunity to expand its food service offering outside of its core portfolio of arenas, stadiums and convention centres into business dining, schools and colleges, fairgrounds and off-premise catering."
Founded in 1985, San Diego, CA based Premier is a provider of outsourced food and beverage services at entertainment venues, dining clubs, universities and businesses. Its customers range from the State of California to higher education clients and blue chip aerospace and technology firms and include Del Mar Fairgrounds and Race Track, one of the most attended thoroughbred racing venues in the US, and the University of California, San Diego Faculty Club. Premier's services include dining centre and restaurant management, alcoholic beverage and food concessions, meeting facility management and special events management.
"Premier is a perfect fit for our California SAVOR food business which includes the Long Beach Convention Center, The Aquarium of the Pacific, the Long Beach Grand Prix, the Moscone Center, the Ontario Convention Center and Fresno State University. This acquisition will also provide a base of business to further expand SMG's SAVOR brand nationally," says Wes Westley, SMG president and CEO.
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