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Sodexho Acquires Tir Groupé's Gift Vouchers and Cards Business
4/11/2007
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(Paris - April 11, 2007) - Sodexho Alliance, the leading global provider of Food and Facilities Management services and number two in the world in Service Vouchers and Cards announced today that it has acquired Tir Groupé's Gift Vouchers and Cards business.
With eight regional agencies and 200 employees, Tir Groupé is France's leading issuer of gift vouchers to businesses and local communities. It generated issue volume of nearly €300 million in 2006 and has experienced sustained average annual growth of 16% over the past two years.
Tir Groupé offers its 14,000 clients one of the most comprehensive networks in France with more than 325 national retail chains and nearly 300,000 participating affiliates.
The transaction offers promising perspectives for both companies:
For Tir Groupé, the backing of a world leader in Service Vouchers and Cards operating today in 29 countries, and in particular access to the Sodexho client portfolio, will enable it to accelerate its growth while opening new career development opportunities for the employees of Tir Groupé and Sodexho.
For Sodexho's Service Vouchers and Cards activity, the acquisition provides an entry to France's gift voucher market, a segment that benefits from excellent growth prospects with an issue volume of nearly €2 billion. It also extends the Group's offering in the French corporate services segment and creates a new distribution channel for its In-home Help Vouchers (CESU) and Meal Vouchers. The acquisition also will strengthen Sodexho's international presence of its Gift Voucher business, with its significant growth potential around the world.
“This acquisition will enable the development of numerous synergies,” said Pierre Henry, Sodexho Alliance COO and Chief Executive Officer for Service Vouchers and Cards. “It is fully in line with our strategy of proposing to clients a unique offer of services that improve the quality of daily life, comprising Foodservices, Facilities Management and Service Vouchers and Cards.”
Download the press release in pdf
About Sodexho Alliance
SODEXHO ALLIANCE, founded in 1966 by Pierre Bellon, is the leading global provider of Food and Facilities Management services, with more than 332,000 employees on 28,300 sites in 80 countries. For Fiscal 2006, which closed August 31, 2006, SODEXHO ALLIANCE had sales of 12.8 billion euro. Listed on Euronext Paris and on the New York Stock Exchange, the Group's current market capitalization is 8.9 billion euro.
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