Levy Restaurants UK – the sports, leisure and hospitality division of Compass Group UK & Ireland – and Wasps, owner of the Ricoh Arena, have announced a 15-year extension to their existing partnership in a deal expected to generate GBP£195m in total turnover.
The Ricoh Arena is one of the leading sports, exhibition, conferencing and events arenas in the UK, and the deal will see Levy Restaurants UK provide all catering services for match day, conferencing and events until 2030.
Levy Restaurants UK has worked with Arena Coventry Ltd (ACL), Wasps’ subsidiary company, since 2007.
Colin Bailey, Managing Director, Levy Restaurants UK said:
We are pleased to have extended this partnership and to be part of an exciting new chapter with Wasps at the Ricoh Arena. Wasps’ arrival at the Arena has generated huge excitement among the local and sporting community.
We pride ourselves on our powerful partnerships that create legendary experiences and this is a great example of how we’ll be bringing this ethos to life – working to put the guest first at the Ricoh Arena to ensure they have a unique experience every time.
David Armstrong, Group Chief Executive Officer of Wasps said:
The increased length and investment of this new contract reflects the upward curve Wasps and ACL have followed since Wasps acquired the Ricoh Arena and aligned the brands. It also indicates a firm belief in what we can achieve off the field at our new home, through the powerful combination of sport, business and entertainment.
Alongside the tripling of match day attendances, hospitality has increased by over 500% in comparison to Wasps’ offering last season and the Ricoh Arena’s Conference & Exhibition business turnover has increased in the first six months since Wasps’ acquisition of the venue. We are confident both businesses will continue to grow as we aim to establish the Ricoh Arena as the UK’s leading venue for sport, business and entertainment.
Wasps recently announced a series of planned improvements for the Ricoh Arena. When all upgrades have been completed by the end of 2015, the Arena will offer visitors a total of five bars, three restaurants on-site and over 20 food and beverage outlets.