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Elior leads contract catering market in Italy following acquisition of Germeaz Cusin
The Elior Group has acquired Gemeaz Cusin – one of Italy’s major contract catering players – from a fund managed by the private equity firm Faberstone.
Elior becomes leader in Italy’s contract catering market
Submitted by admin on Fri, 2012-04-20 09:13
Elior leads contract catering market in Italy following acquisition of Germeaz Cusin
The Elior Group has acquired Gemeaz Cusin – one of Italy’s major contract catering players – from a fund managed by the private equity firm Faberstone.
The acquisition is a seamless fit with the Group’s growth strategy and propels Elior to the leading position in Italy’s contract catering market, with annual revenue of some €650 million. Including its concession catering subsidiary, MyChef, Elior’s total annual revenue generated in Italy will amount to around €800 million.
Gemeaz Cusin generates annual revenue of around €300 million and has 6,000 employees who work in its 800 restaurants within the healthcare & seniors, education, business & industry and defence sectors.
Commenting on the acquisition, Gilles Petit, chief executive of the Elior Group said: “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”.
