Compass Diversified Announces Definitive Agreement to Sell Sterno’s Food Service Business for $292.5 Million and Accelerate Deleveraging
Compass Diversified (NYSE: CODI) announced a definitive agreement to sell the food service business of its subsidiary Sterno to Archer Foodservice Partners for $292.5 million. The sale enables CODI to repay debt and reduce its senior secured net leverage ratio to below 1.0x, improving financial flexibility. Post-sale, CODI will retain the Sterno ho…