Elior Group enters India with acquisition of MegaBite, CRCL

In What’s Happening in Retail by Elargirindia0 Comments

Click Here for Original Source – Economic Timeselior-group-enters-india-with-acquisition-of-megabite-crcl

NEW DELHI: Elior Group, a France-based contract food and support services provider, has entered the Indian market with the acquisitions of two food caterers, MegaBite Food Services and CRCL, for an undisclosed amount.

While MegaBite has been wholly acquired by the French company, it has acquired a majority stake in CRCL, Elior Group said in a release.

“This move in India allows us to expand into emerging markets, which is one of the objectives of our 2016-2020 strategic plan,” Elior Group Chairman and CEO Philippe Salle said.

The company believes India is one of the most promising markets with significant growth potential and a very fragmented profile. The combined acquisitions of MegaBite and CRCL will position the group among the top three contract caterers in the Indian market, he added.

However, the company did not disclose any financial detail of the acquisitions of the two contract caterer firms.

MegaBite Food Services provides 28,000 meals each day in Bangalore and 1,800 meals in Mumbai, Elior Group said in a statement.

“We believe this relationship can help us introduce more innovative offerings for our customers,” MegaBite Food Services Chef Prabhakar said.

Chennai-based CRCL employs over 2,650 people at various sites and serves over 1,00,000 meals each day, Elior Group said.

The customers of MegaBite and CRCL include Cisco, Microsoft, Google, McKinsey, Shell, Daimler, Pfizer, MRF and Vellore Institute of Technology.

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