Oakdale-based Prom sells sports catering business to Levy
Prom Management Group of Oakdale has sold its golf- and sports-hospitality business to Chicago-based Levy Restaurants for an undisclosed sum.
The deal represents a big portion of Prom's $40 million-a-year business; the company caters about 37 PGA events annually and has the concessions contract for the U.S. Open.
Owners Bill and Tom Given — sons of Prom's founder Harry Given — will continue to manage that business and will also retain ownership of the Prom Center in Oakdale, the company's private event business and food-service contracts at several Twin Cities golf courses, including Theodore Wirth, Columbia and Keller.
Bill Given said the deal will not result in any layoffs. The company has 56 full-time and 150 part-time employees.
Given expects the new company, Levy Prom Golf LLC, to grow. Because Levy is owned by U.K.-based Compass Group, an international foodservice giant, Given said Levy Prom Golf will have the resources to compete for major golf tournaments around the world.
Meanwhile, Given said, the business staying with the family, Prom Catering, will likely be rebranded with a new name. He didn't delve deeper into those details, but said younger generations don't connect as much to the name Prom, which has hosted at its ballrooms Ronald Reagan (before he was president), kings, queens, star athletes and even a "roast" of Jesse Ventura.
"Prom Catering is working now to regenerate our name and reinvent ourselves in the future. It's not a process that will happen overnight," Given said.
Locally, Levy Restaurants handles concessions at Xcel Energy Center and will cater the Ryder Cup in 2016 at Hazeltine National Golf Club in Chaska.
Reported by: Bizjournals.com
The deal represents a big portion of Prom's $40 million-a-year business; the company caters about 37 PGA events annually and has the concessions contract for the U.S. Open.
Owners Bill and Tom Given — sons of Prom's founder Harry Given — will continue to manage that business and will also retain ownership of the Prom Center in Oakdale, the company's private event business and food-service contracts at several Twin Cities golf courses, including Theodore Wirth, Columbia and Keller.
Bill Given said the deal will not result in any layoffs. The company has 56 full-time and 150 part-time employees.
Given expects the new company, Levy Prom Golf LLC, to grow. Because Levy is owned by U.K.-based Compass Group, an international foodservice giant, Given said Levy Prom Golf will have the resources to compete for major golf tournaments around the world.
Meanwhile, Given said, the business staying with the family, Prom Catering, will likely be rebranded with a new name. He didn't delve deeper into those details, but said younger generations don't connect as much to the name Prom, which has hosted at its ballrooms Ronald Reagan (before he was president), kings, queens, star athletes and even a "roast" of Jesse Ventura.
"Prom Catering is working now to regenerate our name and reinvent ourselves in the future. It's not a process that will happen overnight," Given said.
Locally, Levy Restaurants handles concessions at Xcel Energy Center and will cater the Ryder Cup in 2016 at Hazeltine National Golf Club in Chaska.
Reported by: Bizjournals.com
