Talk about an exit. Avendra LLC, a leading hospitality procurement services provider co-founded in 2001 with a $13 million investment by Bethesda-based Marriott International Corp., will be sold to Philadelphia-based Aramark (NYSE: ARMK) in a $1.35 billion deal, the companies announced Sunday. Marriott (NASDAQ: MAR) expects to receive roughly $650 million for its 55 percent interest in the Rockville-based Avendra. Avendra’s other founding shareholders — Hyatt, Accor, ClubCorp and IHG — will…
from https://www.bizjournals.com/baltimore/news/2017/10/16/marriott-invested-13m-in-this-companys-founding.html?ana=RSS%26s=article_search
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