Live Nation Inc. said Monday that it has signed a five-year deal with Aramark Corp. and SMG-Savor to manage food and beverage concessions at 34 of its amphitheaters.

The Los Angeles-based concert promoter said concession sales at these amphitheaters can bring in $100 million a year. It expects annual adjusted operating income from its share of concessions revenue to increase by 20 percent as a result of the partnerships.

“We believe that this deal further strengthens our growth profile, despite the current economic slowdown,” said Jason Garner, chief executive of global music for Live Nation, in a statement.

Aramark is a privately held provider of concessions management and various facilities services, and food. SMG-Savor is a unit of SMG, an operator of arenas, stadiums and convention centers owned by private equity firm American Capital Ltd.

Shares of Live Nation were down 41 cents, or 5 percent, to $8.04 in morning trading on the New York Stock Exchange.