Compass Diversified To Sell Sterno's Food Service Business For $292.5 Mln; CODI Up In Pre-Market

Compass Diversified (CODI) agreed to sell the food service business of its majority-owned subsidiary SternoCandleLamp Holdings to Archer Foodservice Partners. Deal terms and proceeds were not disclosed; the divestiture is a portfolio monetization likely to have limited market impact unless material proceeds or guidance changes are announced.

Analysis

Compass Diversified (CODI) agreed to sell the food service business of its majority-owned subsidiary SternoCandleLamp Holdings to Archer Foodservice Partners. Deal terms and proceeds were not disclosed; the divestiture is a portfolio monetization likely to have limited market impact unless material proceeds or guidance changes are announced.