Elis continues its growth strategy in Europe
and strengthens its footprint in Belgium
Saint Cloud, April 24, 2018 - Elis, a leading multi-services group in Europe and Latin America, specializing in the rental and maintenance of professional clothing, textile articles, hygiene and well-being appliances, announces it has closed the acquisition of 100% of Ardenne et Meuse (A&M) in Belgium.
A&M is a family business that operates one laundry near Liège. It generated revenues of c. 8 million euros in 2017, entirely in the Flat Linen market for Hospitality clients. Its plant is particularly modern and delivers remarkable productivity.
With this transaction, Elis enters the Flat Linen market in Belgium, where it previously only operated in the workwear and Hygiene & Well-being segments. The creation of this Belgian platform for Flat Linen will also enable us to reallocate volumes between Northern France, Belgium, Luxembourg and the North-West of Germany, paving the way for logistics optimization and productivity improvement in the region.
Commenting on this announcement, Xavier Martiré, CEO of Elis, said:
"With the acquisition of A&M, Elis is launching its Flat Linen business in Belgium. We intend to create a dense, efficient and very profitable network in the country, similar to what the Group has already achieved in many other European geographies. We will therefore continue to invest in this segment in this region. The quick integration of the company and its approximately 80 employees, together with the transfer of know-how, should contribute to Elis' profitable growth trajectory going forward."
Contact
Nicolas Buron, Investor Relations Director - Phone: +33 1 75 49 98 30 - nicolas.buron@elis.com
