LONDON--(BUSINESS WIRE)--CBRE Group, Inc. (NYSE:CBG) today announced that it has acquired the business of Convergences-CVL, a leading, full service retail property consultancy based in Paris, France.
Founded in 2010, Convergences-CVL is led by Jérôme Le Grelle and includes a team of 27 professionals based in Paris. Convergences-CVL provides a full range of retail property services from strategic planning to transaction execution and property management for a broad range of clients in France including developers, retailers and public sector entities.
This acquisition enhances CBRE’s position in the retail sector in France where it already holds a leading position in the office and industrial leasing sectors.
Jérôme Le Grelle will assume the role of Head of Retail for CBRE in France. Prior to founding Convergences-CVL, Mr. Le Grelle held a number of high profile positions in the retail sector including Head of Real Estate at LVMH, President of the French subsidiary of Rodamco Europe and COO of Carrefour Property.
Martin Samworth, CEO of CBRE, EMEA said: “This acquisition adds market-leading expertise in retail consultancy and development advisory capabilities to our strength in retail transactions and will significantly enhance our ability to provide a full range of world-class retail services to our domestic and international clients in France.”
Jérôme Le Grelle, CEO of Convergences-CVL, said: “CBRE’s global footprint and broad service offering is a critical factor which will enable us to deliver more advantages to our clients and we look forward to enhancing our position as the premier retail team in France.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
Certain of the statements in this release regarding the acquisition of Convergences-CVL that do not concern purely historical data are forward-looking statements within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on our management’s expectations and beliefs concerning future events affecting us and are subject to uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Accordingly, actual performance, results and events may vary materially from those indicated in forward-looking statements, and you should not rely on forward-looking statements as predictions of future performance, results or events. Numerous factors could cause actual future performance, results and events to differ materially from those indicated in forward-looking statements, including, but not limited to, our ability to successfully integrate Convergences-CVL with our existing retail operations in France and in EMEA, as well as other risks and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (SEC). Any forward-looking statements speak only as of the date of this release. We assume no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws. If we do update one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. For additional information concerning factors that may cause actual results to differ from those anticipated in the forward-looking statements and other risks and uncertainties to our business in general, please refer to our SEC filings, including our Form 10-K for the fiscal year ended December 31, 2016 and our Form 10-Q for the quarter ended March 31, 2017. Such filings are available publicly and may be obtained from our website at www.cbre.com or upon request from the CBRE Investor Relations Department at firstname.lastname@example.org.