Elior sold its wholly owned subsidiary Elior Nederland B.V., operating under the name Avenance, to Compass Group plc.
Elior ranks third in the European contract catering and related services market. Elior’s 82,000 employees serve 3 million guests each day at 15,000 restaurants and outlets in 15 countries. Elior is active in the sectors Business & Industry, Education, Healthcare & Seniors, Travel, Leisure and Culture. In 2010 Elior generated revenues of EUR 3.8 billion.
Avenance is the fifth largest contract catering company in the Netherlands with turnover of EUR 95.5 million and 1,350 employees. Avenance operates in the Business & Industry, Education and Healthcare sectors. Customers include Schiphol, Ernst & Young, Ballast Nedam and World Trade Center.
Compass Group is the largest contract catering company in the world and has operations in over 50 countries and serves around 4 billion meals a year. In 2010 turnover amounted GBP 14.4 billion with 386,000 employees. Compass is listed on the London Stock Exchange.
PhiDelphi Corporate Finance acted together with its network partner DC Advisory Partners as advisor to Elior.
In the past PhiDelphi advised Compass Group on the acquisition of a minority stake in ECS, the catering department of Philips Electronics. Besides, PhiDelphi advised VVC, a contract caterer at leisure, museum and sporting locations, on its sale to Compass Group.