Elior acquires US food service business TrustHouse Services Holdings
Contract caterer Elior is entering the US food service market with the acquisition of TrustHouse Services Holdings (THS), the fourth largest operator in the country's healthcare and education market.
Founded in 2008, THS has an annual turnover of around $450m (£297m) and employs 5,000 staff. It serves 250,000 meals a day across 700 contracts throughout the USA.
The undisclosed cost of the transaction is being provided by Elior's major shareholder Charterhouse Capital Partners and the group's founder, Robert Zolade, in association with THS management including its founder Michael Bailey, who will remain as THS's chief executive.
Zolade said: "The successful integration of companies and their management has been from the start a key element of Elior's success."
Earlier this month, Caterer and Hotelkeeper reported that the sale of Elior for a reputed £3.45b had been put on hold as the company was on the verge of making an acquisition in the USA. Charterhouse Capital Partners took the decision to make a planned exit from the business at the end of last year and Rothschild Bank, HSBC and Credit Agricole were tasked with finding a replacement.
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