Sodexo strengthens purchasing power with acquisiti

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Posted On: 10/17/2016 7:30:19 AM

Posted By: News Desk 2018

Sodexo strengthens purchasing power with acquisition of PSL, leading procurement provider to the UK Hospitality Industry

PARIS, Oct. 17, 2016 (GLOBE NEWSWIRE) -- Sodexo, world leader in Quality of Life services, announced today the acquisition of procurement specialist PSL.

Established in 1993, PSL has become a leader in fresh food procurement in the UK with its integrated approach of procurement, operations and systems support. This acquisition will reinforce Sodexo's proposition to deliver market-leading food cost management solutions to its clients including real-time e-platforms to facilitate efficient procurement and operational support to maximise food savings, ranging from menu engineering to waste management. Moreover, thanks to Sodexo's geographic coverage and diverse client base, PSL will develop its business across Europe and capitalise on new product line opportunities, as well as expand its client base beyond the hospitality sector.

The move, which echoes Sodexo's successful US-based GPO (Group Purchasing Organisation) Entegra, further cements the Group's long-term strategy of harnessing business intelligence to identify additional opportunities for value creation for its clients.

Michel Landel, Sodexo Chief Executive Officer, said: "With PSL's market-recognised data solutions and supplier network, we will expand our service offer with new ways to create value for our clients, and extend PSL's business into new geographies and new sectors."

Daniel Wilson, Managing Director of PSL, said of the acquisition: "I and the management team of PSL are delighted to be joining Sodexo, a global leader in the services industry, which will bring fantastic opportunities not only for both businesses but also for our employees, clients and suppliers."

About Sodexo Founded in 1966 by Pierre Bellon, Sodexo is the global leader in services that improve Quality of Life, an essential factor in individual and organizational performance. Operating in 80 countries, Sodexo serves 75 million consumers each day through its unique combination of On-site Services, Benefits and Rewards Services and Personal and Home Services. Through its more than 100 services, Sodexo provides clients an integrated offering developed over nearly 50 years of experience: from food services, reception, safety, maintenance and cleaning, to facilities and equipment management; from Meal Pass, Gift Pass and Mobility Pass benefits for employees to in-home assistance and concierge services. Sodexo's success and performance are founded on its independence, its sustainable business and financial model and its ability to continuously develop and to engage the commitment of its 420,000 employees throughout the world. Sodexo is a member of the CAC 40 and DJSI Indices.

Key figures (as of August 31, 2015) 19.8 billion euro in consolidated revenues 420,000 employees 19^th largest employer worldwide 80 countries 32 , 000 sites 75 million consumers served daily 15 billion euro market capitalization (as of July 7, 2016)

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