Elis continues its growth strategy in Ireland
with the acquisition of Kings Laundry
Saint-Cloud, July 26, 2018 - Elis, an international multi-service provider, offering textile, hygiene and facility services solutions across Europe and Latin America, continues its acquisition strategy in its key markets and announces the signature of an agreement to acquire 100% of Kings Laundry Ltd. in Ireland. The closing of the transaction is subject to standard regulatory conditions and is expected to occur by the end of 2018.
Kings Laundry operates two plants in Cork and in Dublin that are dedicated to Flat Linen. It generated revenues of c. 30 million euros in 2017. The acquisition will deliver synergies and complements Elis' existing operations in Ireland, allowing Elis to offer services to a wider range of customers.
Commenting on this announcement, Xavier Martiré, CEO of Elis, declared:
"The acquisition of Kings Laundry is an additional step in our development in Ireland. The quality of Kings Laundry's assets as well as the experience of its management team will facilitate the integration of the company, whose founder will become country CEO."
Contact
Nicolas Buron
Investor Relations Director - Phone: +33 1 75 49 98 30 - nicolas.buron@elis.com
Audrey Bourgeois
Investor Relations - Phone: +33 1 75 49 96 25 - audrey.bourgeois@elis.com
