Benzinga | Dec 7, 2021 02:16PM EST

Aramark Enters Strategic Collaboration With Starr Restaurant

* Aramark (NYSE:ARMK) has entered into a strategic collaboration with the Philadelphia-based Starr Restaurant Organization. The financial terms were not disclosed.

* The parties will drive culinary innovation through the collaboration designed to provide the best hospitality experiences for Aramark clients.

* An exclusive licensing agreement will allow Aramark to operate designated Starr concepts and brands within multiple lines of its business.

* The collaboration will also lead to Aramark acquiring a minority ownership position in Starr Restaurants.

* Price Action: ARMK shares are trading lower by 0.11% at $35.43 on the last check Tuesday.