Compass Diversified Completes Sale of Sterno’s Food Service Business
Compass Diversified completed the sale of Sterno’s food service business to Archer Foodservice Partners for an enterprise value of $292.5 million. The transaction closed on May 1, 2026, concluding the divestiture of a majority-owned subsidiary's business unit. CODI received approximately $280 million in net proceeds after adjustments and allocations to non-controlling shareholders. The company intends to use the proceeds to repay outstanding senior secured debt.
Key figures
- Deal Value Usd
- 292500000
- Proceeds to codi
- $280 million
- Target net leverage
- below 1.0x
- Leverage milestone date
- June 30, 2026
AI analysis
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