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Finalizing the acquisition of Zehnacker, Sodexo doubles the size of its activities in Germany
12/16/2008
Finalizing the acquisition of Zehnacker, Sodexo doubles the size of its activities in Germany and reinforces its global offer in Quality of Life Services in Europe.
Paris, December 15, 2008 - Sodexo announces the completion of its acquisition of the Zehnacker Group, the leading independent provider in Facilities Management services in the German Health Care segment. This transaction obtained the final approval of the European competition authorities. The sellers including Burkart family will preserve approximately 10% participation in the Zehnacker Group. The amount paid by Sodexo is 172 million Euros. The Zehnacker Group will be integrated into the consolidated accounts of Sodexo as of December 1st, 2008.
Founded in 1933 by the Burkart family, the Zehnacker Group is today the leading German integrated Facilities Management services provider for the Health Care segment, with unique expertise and innovative solutions. In 2007, the Zehnacker Group generated approximately 250 million Euros in revenues. Through its affiliate GA-TEC, the Zehnacker Group also provides technical maintenance and engineering services to Health Care and corporate clients in Germany. Additionally, the Group provides a similar range of Facilities Management services in Austria, Switzerland, and Poland.
Sodexo CEO, Michel Landel, stated: "In line with our strategy, the acquisition of Zehnacker allows us to double our size in Germany and to further strengthen our position in the market as a provider of integrated services solutions for the Health Care segment as well as for corporate clients”.
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About Sodexo
Sodexo, founded in 1966 by Pierre Bellon, is a world leader in Food and Facilities Management services, with more than 355,000 employees on 30,600 sites in 80 countries. For Fiscal 2007, which closed August 31, 2007, Sodexo had revenues of 13.6 billion Euros. Listed on Euronext Paris, the Group's current market capitalization is 6.1 billion Euros.
