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Aramark Acquiring Minority Stake in Starr Restaurant Organization as Part of Culinary Collaboration

9:22AM ET 12/07/2021 MT Newswires
Aramark (ARMK) said Tuesday it is acquiring a minority stake in Starr Restaurant Organization as part of a collaboration to drive culinary innovation and new growth at both companies.

Financial terms of the acquisition were not disclosed.

The collaboration includes an exclusive licensing agreement that allows Aramark to operate designated Starr concepts and brands within multiple lines of its business. The companies will also explore joint business development opportunities, Aramark said.

Aramark shares were about 2.6% higher in recent premarket activity Tuesday.

Price: 36.4, Change: +0.93, Percent Change: +2.62