SBD/May 13, 2014/Finance

Levy Acquires Professional Sports Catering, Boosting Its Minor-League Presence

Levy Restaurants "has acquired" minor league baseball concessionaire Professional Sports Catering, and the transaction "boosts Levy’s market share in minor league baseball and gives PSC greater leverage as it pursues new business," according to Don Muret of SPORTSBUSINESS JOURNAL. The purchase price was not disclosed. PSC CEO Tom Dickson said that the company's "annual revenue" is in the $30M range. The firms have "been in talks about forming a partnership for the better part of three years." Dickson said that the timing was "finally right after PSC expanded its business to more than 15 minor league accounts." Levy Restaurants President Andy Lansing said that the deal "meets its desire to further expand in minor league baseball beyond its four accounts." Muret notes one thing "that does change" is Mandalay Baseball, which previously owned a piece of PSC, is "no longer involved in its ownership after Levy’s purchase." Dickson said that Levy "now owns" 100% of PSC. PSC now "runs food service at 20 facilities" (SPORTSBUSINESS JOURNAL, 5/12 issue). Sports concession consulting firm Bigelow Cos. President Chris Bigelow said that the deal also "gives Levy its own minor league system for on-site venue staff." Bigelow: "It's a great training ground for management. ... That's a good thing for (Levy) internally." In Chicago, Danny Ecker noted the move is the "latest development in a sports concessions hot streak for Levy, which has added clients over the past 18 months" in the Redskins, Trail Blazers, T'Wolves, Ohio State, Wisconsin and Texas A&M (CHICAGOBUSINESS.com, 5/12).
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