The Campbell Bewley group is in advanced negotiations on a joint venture between its Campbell Catering business and the British catering arm of Aramark. Campbell is the biggest Irish catering company and together the two are valued at £350 million (€444 million).

A spokeswoman for Campbell Bewley would not comment on the discussions which are believed to have begun in June and may not be concluded for another month. Aramark is part of the US-based catering, textile and childcare group. Under the joint venture agreement, the British business will continue to be run by its chief executive, Mr Bill Toner, while Campbell Bewley chief executive Mr Dan Cronin will run the Irish operations.

Campbell Bewley is also understood to be close to completing the £20 million purchase of the US cafe and restaurant business, Java City. Campbell Bewley employs 6,500 and has an annual turnover of £170 million. If the joint venture is agreed both companies are expected to target the Irish and UK markets for catering contracts.