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France-based Elior Group completes acquisition of Megabite, CRCL

France-based Elior Group completes acquisition of Megabite, CRCL

France-based Elior Group, one of the leading operators in the contracted food industry, has announced that it has completed the simultaneous acquisitions of Megabite Food Services and C Ramachandran Catering (CRCL) – Indian contract caterers for the business and industry market. While Elior has wholly acquired Megabite, it has picked up a majority stake in CRCL. The acquisitions were completed in a time of 48 hours. The completion of the acquisitions has sealed Elior’s entry into India and the company has now emerged amongst the top three players in the corporate food services industry in the country, with 3,500 employees on its rolls. The newly formed subsidiary, Elior India, will serve 1.35 lakh meals each day to employees of companies such as Cisco, Microsoft, MRF, Daimler, Pfizer and Shell.

Elior also announced the appointment of Sanjay Kumar as the CEO of its newly formed subsidiary, Elior India Food Services LLP. Kumar, who was the brainchild behind Elior’s entry into India, will be responsible for the company’s operations in the country. He will report directly to Philippe Salle, chairman and CEO of Elior Group and will also be a member of the Group Management Committee.

Kumar said, “The India market offers a lot of promise and we expect to generate annual revenues of US$ 100 million through our acquisitions. Our aim is to create a national footprint through more acquisition-driven consolidations, whilst also continuing to focus on quality, safety, and the strengths of our acquisitions – all of which are our key differentiators. We are confident that our India operations will help open an exciting new chapter of growth for the company as it allows us to expand into other emerging markets, which is one of the key objectives to meet our 2020 goals.”

According to the NRAI India Food Services Report 2016, the food services market is worth INR 3,09,110 crore (US$ 50 billion) and growing in excess of 15 per cent year-on-year. It is estimated that the total contribution of the food services industry alone will be 2.1 per cent to the GDP of India and worth INR 4,98,130 crore (US$ 77 billion) by the year 2021.

The article was published on foodhospitality.in on May 03,2017