Aramark, SMG in Major Joint Venture

Aramark has signed a five-year agreement with event management firm Live Nation to manage food and beverage concessions at 34 of Live Nation's North American amphitheaters in tandem with Live Nation’s SMG-Savor foodservice division. In 2007, concession sales in the venues included in the deal generated around $100 million in revenue. Under the terms of the agreement, SMG-Savor/Aramark will manage food and beverage concessions for an estimated eight million customers who attend concerts at Live Nation amphitheaters annually. SMG-Savor is a major catering/concessions provider, operating in 38 arenas, 25 convention centers and nine special event facilities in the U.S. and Europe.