PARIS--(BUSINESS WIRE)--Regulatory News:
Elior Group (Paris:ELIOR), one of the world's leading operators in the contracted food industry, has signed a definitive agreement through its US subsidiary, culinary management leader Elior North America, to acquire Lancer Hospitality, a foodservice and catering provider based in Minnesota. In operation for more than 30 years, Lancer Hospitality provides professional food management services in a variety of settings from cultural attractions to business centers, schools and healthcare facilities. The company generated sales of approximately $70m in FY 2016. The acquisition strengthens Elior North America’s position in three of its priority markets also expanding the company’s geographic reach.
“This acquisition is another step in our strategic plan to accelerate development within growing markets,” outlines Philippe Salle, Elior Group Chairman and CEO. “In the markets’ segments where we see significant opportunities, Lancer Hospitality fits perfectly. We are focused on growth within the United States and will continue to expand both organically and through strategic acquisitions like this one.”
Lancer Hospitality will continue to operate under its current brand as part of Elior North America’s west market segments, and will be led by Glenn Baron, its current President. All of Lancer Hospitality’s 1,400 employees will remain part of the team going forward and become an integral part of the Elior Group team.
“The addition of Lancer Hospitality takes us deeper into several markets we currently serve and expands our offerings into new areas,” said Brian Poplin, President and CEO of Elior North America. “In the cultural segment, we are adding a roster of new venues and strengthening our position in the education, senior dining and healthcare verticals, where we already have a strong middle-market presence.”
“We are looking forward to joining the team members at Elior North America, bringing our best practices, and our shared commitment to the clients,” said Baron. “For our employees, there is now tremendous opportunity throughout the company we’re joining, and for our clients, access to additional resources will allow us to invest in our infrastructure, giving us the ability to enhance our operations with new technology and culinary innovation.”
In case of discrepancy between the French and the English version of this press release, the French version shall prevail.
About Elior North America
Elior North America enhances the lives of the people we serve through culinary innovation and a commitment to providing exemplary service. The family of companies, with over 13,500 employees, provides food services and catering to more than 1,300 client accounts in five industry segments across the continental US.
For further information: http://elior-na.com/
About Elior Group
Founded in 1991, Elior Group has grown into one of the world's leading operators in the catering and support services industry, and is now a benchmark player in the business & industry, education, healthcare, and travel markets.
Now operating in 15 countries, the Group generated €5,896 million in revenue through 23,000 restaurants and points of sale in FY 2015-2016. Our 120,000 employees serve 4.4 million customers on a daily basis, taking genuine care of each and every one by providing personalized catering and service solutions to ensure an innovative customer experience.
We place particular importance on corporate social responsibility and have been a member of the United Nations Global Compact since 2004. The professional excellence of our teams, as well as their unwavering commitment to quality and innovation and to providing best in-class service is embodied in our corporate motto: "Time savored".