Aramark to acquire Next Level Hospitality, expanding presence in high-growth senior living sector

Aramark said it has signed an agreement to acquire Next Level Hospitality, a provider of culinary and environmental services in the senior living sector. The transaction is expected to close in Aramark’s fiscal third quarter.

Founded in 2017, Next Level, specializing in skilled nursing and rehabilitation facilities, serves hundreds of locations in the U.S., primarily in the East Coast, Midwest and Texas.

“Next Level has built an impressive, fast-growing business that provides high quality services, led by a strong management team with a proven track record of execution,” stated Aramark chief executive John Zillmer.

“This complementary acquisition extends our presence in the attractive, emerging senior living sector and reflects our highly selective M&A strategy,” he added

Next Level generated about $160 million of revenue in the past 12 months, ended Mar. 31, and is expected to be accretive to Aramark’s earnings by early fiscal 2022. It will operate as a separate division under its own brand within Aramark’s healthcare business.

Separately, Aramark is scheduled to host its fiscal second quarter earnings call on May 11 at 8:30 a.m. ET.