Compass Diversified sells Sterno’s food service business for $280M to reduce debt.

Compass Diversified completed the sale of Sterno’s food service business to Archer Foodservice Partners for approximately $280 million. The proceeds will be used to repay senior secured debt, aiming to reduce the company’s leverage ratio below 1.0x by mid-2026, avoiding excess leverage fees. This sale supports Compass Diversified’s strategy to deleverage while positioning Sterno’s food service business for growth under new ownership.