Growth by acquisition
In 2000 Elior was listed on the primary market of Euronext in Paris. [1] From 2001 to 2006, the company's international growth was marked by alliances with Serunion and Areas in Spain, making it a regional leader in contract catering. This expansion continued with acquisitions in Italy, France, and the United Kingdom.
In 2006 Robert Zolade and two partner investors acquired 100% of Elior's capital and voting rights, delisting the company from the stock exchange. Despite this, Elior continued to develop in Europe and expanded its activities in the United States, particularly in the airport and highway markets. The acquisitions of FMC, GHS, and Sin & Stes [2] strengthened its multiservice offerings.
By 2011 Elior consolidated its activities under a single brand, phasing out Eliance and Avenance. It established three main divisions: Elior Concession (for city, airport, highway, train station, and leisure concessions), Elior Restauration (contract catering for businesses, education, and healthcare), and Elior Service (cleaning and facilities management). The following year, Elior acquired Ansamble [3] and bolstered its position in Italy.
In 2013 Elior entered the American contract catering market by acquiring TrustHouse Services, the fourth largest operator in the education and healthcare markets in the United States. [4] Elior returned to the stock market in June 2014, listing on Euronext Paris, and joined the SBF 120 index in March 2015. In July 2015, Elior became the sole shareholder of Areas [5] and further strengthened its U.S. presence in contract catering by acquiring Starr Catering Group and Abl Management, specializing in catering for correctional and university facilities. [6]
March 2016 saw the renaming of Elior's North American subsidiary to Elior North America, and the acquisition of Preferred Meals, [7] a company specializing in contract catering and home delivery for the education and senior markets. In July 2016, Elior Group announced the acquisition of Waterfall Catering Group [8] through its subsidiary Elior UK, reinforcing its positions in the education, healthcare, social services, and corporate markets.
In November 2016 Elior Group entered the Indian market with the acquisition of MegaBite Food Services and CRCL. [9] The expansion continued in 2017 with the acquisitions of CBM Managed Services, [10] Lancer Hospitality, [11] Abigail Kirsch, Corporate Chefs, [12] Design Cuisine, and Sidekim in the United States.
On July 26, 2017 the board of directors decided to change the company's governance structure, separating the roles of chairman and CEO. [13] In July 2018, Elior Group acquired Bateman Community Living, [14] an American company specializing in senior nutrition.
In April 2019 Elior Group announced it had received a firm offer of €1,542 million from PAI Partners for its catering activities under the Areas brand. [15] The transaction, totaling approximately €1.4 billion net, was finalized on July 1, 2019. [16]
Arrival of derichebourg
In May 2022 Derichebourg Group became the largest shareholder of Elior Group, increasing its stake to 20% of the company's capital. By December, Derichebourg further increased its stake in Elior to 48.4%, up from 24.63% before this transaction. This increase in participation was made in exchange for the acquisition of Derichebourg's service business, which employed 37,000 people and generated nearly 950 million euros in revenue. [20] [21]
On March 6, 2023 the signing of the memorandum of understanding and the agreement regarding the sale of Derichebourg Multiservices to Elior was made official. [22] This transaction was approved at the general meeting on April 18, 2023, [23] creating a combined entity with over 5 billion euros in revenue and 134,000 employees.
