May 8, 2021

Avendra is sold

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From HOTEL BUSINESS Marriott International has revealed that the owners of Avendra LLC have reached a binding agreement to sell Avendra to Aramark for $1.35 million. After redemption of management participation rights, transaction costs, and repayment of Avendra’s outstanding debt, Avendra’s founding shareholders—Marriott, Hyatt, Accor, ClubCorp and IHG—expect to receive approximately $1.18 million in cash […]