The Caisse de dépôt et placement du Québec has acquired a minority interest in Elior Group, a French provider of contract catering, concession catering and services. No financial terms were disclosed for the deal, which will allow the Caisse to be represented on the company’s board of directors. Based in Paris, Elior serves four million customers daily in 18,600 restaurants and points of sale. The Caisse’s Andreas Beroutsos said the pension fund manager will make use of its network and knowledge of the North American market to support Elior’s continued global expansion.
CDPQ Invest in Elior Group
Montréal and Paris, March 2, 2016 – Caisse de dépôt et placement du Québec (CDPQ) announced its acquisition of a minority interest in Elior Group (Euronext Paris – ISIN: FR 0011950732), one of the world’s leading operators in the food services industry. Following this transaction, CDPQ will be represented on the group’s Board of Directors.
Elior Group is a global leader in food services for schools, businesses and healthcare institutions. In addition, it ranks third worldwide for its concession services, serving many airports, train stations and highway service centres.
“As a long-term investor, we seek opportunities to invest in businesses resilient to economic cycles and that generate, over time, attractive returns for our clients. Our investment in Elior Group is well aligned with this strategy,” said Andreas Beroutsos, Executive Vice-President, Private Equity and Infrastructure at CDPQ. “We also intend to make our network and knowledge of the North American market available to Elior Group to further its global expansion.”
Four million customers visit one of Elior group’s 18,600 restaurants and points of sale on a daily basis. Mainly active in Europe, the company is also present in North America and Latin America. Today, it has 108,000 employees working in 13 countries.
ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC
Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at December 31, 2015, it held $248.0 billion in net assets. As one of Canada’s leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure and real estate. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages.
ABOUT ELIOR GROUP
Founded in 1991, Elior Group has grown into one of the world’s leading operators in the catering and related services industry, and is now a benchmark player in the business & industry, education, healthcare and travel markets. In FY 2014-2015, it generated €5,674 million in revenue through 18,600 restaurants and points of sale in 13 countries. Our 108,000 employees serve 4 million customers on a daily basis, taking genuine care of each and every one by providing personalized catering and service solutions to ensure an innovative customer experience.
We place particular importance on corporate social responsibility and have been a member of the United Nations Global Compact since 2004. The professional excellence of our teams, as well as their unwavering commitment to quality and innovation and to providing best-in-class service is embodied in our corporate motto: “Time savored”. For further information please visit our website (http://www.eliorgroup.com) or follow us on Twitter (@Elior_Group / @Elior_France).
Photo courtesy of Elior Group