Compass Buys Stake in Entertainment Firm

Compass Group North America has purchased a 49% interest in AEG Facilities, a firm that operates sports and entertainment facilities in the U.S. and around the world. The two companies have enjoyed a relationship since 1999 Levy Restaurants (now a Compass subsidiary) first began operating foodservice at AEG's Staples Center arena in Los Angeles.

“AEG is an exciting, forward-thinking company behind state-of-the-art facilities around the world,” says Compass North America President/CEO Gary Green. “We are thrilled to build upon the success of our relationship and continue to grow together domestically and internationally.”

A subsidiary of sports/entertainment conglomerate AEG, AEG Facilities manages the parent firm's iconic facilities in locations like Los Angeles, London, and Berlin, as well as dozens of third-party venues around the globe. These include arenas from Charlotte, NC, to Sydney, Australia, stadia from Recife, Brazil, to Stockholm, Sweden, and convention centers from Doha, Qatar to Brisbane, Australia.