STAMFORD, Conn., April 25 /PRNewswire-FirstCall/ -- Centerplate, Inc. (Amex: CVP; TSX: CVP.un), the Stamford, Connecticut-based entertainment hospitality company, announced today the acquisition of four food and beverage service contracts from Sun Capital, parent company of Crystal Food Services. The contracts, representing $12 million in annual revenues, will add three of Indianapolis' premier meeting and entertainment venues to the company's client roster: the Indiana State Museum, the Indianapolis Zoo and the Murat Centre and will allow the company to retain the Indianapolis Convention Center, which was set to expire in June 2008. With the addition of these accounts, Centerplate's to-date 2008 annualized revenues from new business now represent over $48 million.
"We are excited to be opening the Lucas Oil Stadium, the future home of our current partners, the Indianapolis Colts, this summer. The addition of these clients solidifies our presence in Indianapolis and further enhances our position nationally as a pre-eminent caterer to marquee venues," said Janet Steinmayer, President and CEO of Centerplate.
The Indiana Convention Center is currently undergoing a $275 million expansion to be completed in 2010, which will increase its exhibition, meeting room, ballroom and pre-function space to over one million square feet.
The Indianapolis Zoo and the Indiana State Museum, both located in White River State Park, are two of Indianapolis's most popular entertainment destinations, hosting over one million visitors each year at the zoo, aquarium and museum attractions.
The Murat Centre, the largest theater in Indianapolis, is one of Indiana's most distinctive landmarks and maintains a listing on the National Register of Historic Places; it hosts a wide variety of special events ranging from Broadway productions to nationally touring concerts.
Ms. Steinmayer further commented, "The addition of these accounts aligns extremely well with our overall strategy. These properties are prominent Indiana destinations, which will enable us to efficiently apply our knowledge of the market and unique food and beverage approach to build business."
About Centerplate
Centerplate crafts and delivers extraordinary entertainment experiences in over 130 prominent sports, entertainment and convention venues across North America. Centerplate has provided its services to many high profile events including 24 World Series games, 9 U.S. Presidential Inaugural Balls, 11 Super Bowls (including the most recent in Arizona), 9 NCAA Final Four Men's Basketball Tournaments and 14 World Cup Soccer games. Visit the company online at http://www.centerplate.com/ .
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