Dive Brief:
- Career Education Corp. is putting its Le Cordon Bleu North America colleges of culinary arts up for sale, the University Herald reported.
- Selling the culinary college will allow the company to spend more on its 80 or so other higher education schools, which include American InterContinental University, Brooks Institute, Harrington College of Design, and the International Academy of Design & Technology.
- Le Cordon Bleu has 16 campuses in the U.S. and online programs in culinary arts and hotel and restaurant management.
Dive Insight:
Career Education lost $48.1 million in the third quarter, with total student enrollment declining 4.5%, but the culinary school managed to boost its enrollment by 26% to 10,100. In 2013, the school had revenues of $177.5 million. Career Education’s chief executive, Scott Steffey, said that selling Le Cordon Bleu will help the company maximize shareholder value while bringing in a new owner that can invest more in the school, improving it for the students and staff.
