Elior in talks with US target; earmarks EUR 1bn for acquisitions
Elior, the listed French specialist in contract, concession catering and support services, has earmarked EUR 1bn for making acquisitions within five years, Le Figaro reported. The company was especially looking to acquire targets operating in the USA and the UK with annual sales of between EUR 50m and EUR 500m, the French daily reported citing chairman and chief executive Philippe Salle as saying.
Elior was currently in talks with a US company with USD 50m annual revenues and that the deal could be finalised by the end of the year, Salle added.