19th Apr 2012 - 00:00
Abstract
France-based Elior Group has acquired Gemeaz Cusin – one of Italy’s major contract catering companies – and in the process has become the biggest player in the Italian foodservice market.
Gemeaz Cusin was purchased from a fund managed by the private equity firm Faberstone. In a statement, Elior chief executive Gilles Petit said the acquisition was a seamless fit with the group's growth strategy and propelled Elior to the leading position in Italy's contract catering market, with annual revenue £539 million.
Together with its concession catering subsidiary, MyChef, Elior's total annual revenue generated in Italy will now amount to around £664 million. Gemeaz Cusin generates annual revenue of around £249 million and has 6,000 employees who work in its 800 restaurants within the healthcare & seniors, education, business & industry and defence sectors. Added Petit: "We are delighted to welcome Gemeaz Cusin's teams into the Elior Group. This transaction is a perfect illustration of one of the key objectives of our strategy, namely to become a top-ranking player in all of the countries in which we operate". Elior UK is part of the Elior Group, which operates across Europe with annual revenues of £2.99bn.
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