PHILADELPHIA Aramark Corp. has inked a five-year deal with SMG-Savor, a venue-management company, to provide food and beverage concessions at 34 of concert promoter Live Nation’s stadiums and amphitheaters throughout North America.
Concessions sales at the venues included in the deal totaled around $100 million in 2007, according to Live Nation. Jason Garner, CEO of global music for Live Nation, said the Aramark-SMG-Savor deal is expected to generate a 20-percent increase in operating income for its North American locations.
Before signing this latest agreement, Philadelphia-based Aramark had already worked for more than 10 years with Live Nation, said Marc Bruno, president of the Aramark’s sports, entertainment and conventions business.
SMG-Savor is a division of SMG, one of the largest operators of arenas, stadiums and convention centers in the world. American Capital, a private-equity firm with $20 billion in capital resources, owns SMG-Savor.