Regulatory News:
SODEXO (PARIS:SW) (OTCBB:SDXAY) (NYSE Euronext Paris FR0000121220 - SW
OTC: SDXAY), leader in Quality of Daily Life Solutions, announced today
that it has acquired 100% of Puras do Brasil for an enterprise value of
approximately 525 million euros. Founded 30 years ago, Puras do Brasil
is the number two On-site Service solutions operator in Brazil, a
fast-growing market. Puras do Brasil has revenues of around 0.5 billions
euros and employs 22,000 persons across the country, operating across
1,300 sites.
Michel Landel, Sodexo Chief Executive Officer, said: "With this
significant transaction, Sodexo is creating a leading actor in Brazil,
one of the most important markets in the world. This is in line with our
strategy to consolidate Sodexo’s position in high-potential emerging
economies by seizing the best opportunities. Puras do Brasil is a
successful, well-managed business with strong values and high-calibre
teams; I am pleased to welcome Puras’ teams on board.” The current
Chairman and CEO of Puras do Brasil, Hermes Gazzola, will be named
Non-Executive Chairman of the Board of Sodexo’s enlarged On-site Service
solutions activities in Brazil and will help management continue to
develop successfully the business in Brazil given the numerous market
growth opportunities.
In accordance with Sodexo’s long term vision and strategy, this
important move demonstrates the Group’s confidence and commitment to
local and international clients, as well as to the Brazilian economy.
Financing of this transaction represents less than one year of Sodexo’s
consolidated operating cash flows. Accordingly, on a pro-forma basis
following this acquisition, Sodexo’s consolidated net financial debt as
of 28 February 2011 would represent just 46% of shareholders’ equity.
About Sodexo
Sodexo, world leader in Quality of Daily Life Solutions
Quality of Life plays an important role in the progress of individuals
and the performance of organizations. Based on this conviction, Sodexo
acts as the strategic partner for companies and institutions that place
a premium on performance and employee well-being, as it has since Pierre
Bellon founded the company in 1966. Sharing the same passion for
service, Sodexo’s 380,000 employees in 80 countries design, manage and
deliver an unrivaled array of On-site Service Solutions and Motivation
Solutions. Sodexo has created a new form of service business that
contributes to the fulfillment of its employees and the economic, social
and environmental development of the communities, regions and countries
in which it operates.
Key Figures (as of August 31, 2010)
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15.3 billion euro consolidated revenue
380,000 employees
21nd largest employer worldwide
34,000 sites
50 million consumers served daily
80 countries
8 billion euro market capitalization (as of 6 September,
2011)
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www.sodexo.com
