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France-based commercial catering and foodservices operator Elior Group, has entered India with the acquisition of two contract caterers MegaBite Food Services and CR Caterers Ltd.
The new subsidiary, Elior India, will serve 1.35 lakh meals per day with over 3,500 employees, according to a press statement.
Philippe Salle, Chairman and Chief Executive Officer, Elior Group, said in the statement, “This move allows us to expand into emerging markets, which is one of the objectives of our 2016-2020 strategic plan. The combined acquisitions of MegaBite and CR Catering Ltd (CRCL) will position the Group among the top three contract caterers in the Indian market.”
Bengaluru-based MegaBite Food Services caters to premium corporate and employs more than 850 people. It operates a central kitchen in Bengaluru and provides 28,000 meals each day in Bengaluru and 1,800 meals daily in Mumbai. Its customers include Cisco, Microsoft, Google, McKinsey and Shell.
The 33-year-old Chennai-based CRCL is the largest industrial catering company in South India and the fourth largest in India. The company has over 2,650 employees across India. Its customers include Daimler, Pfizer, MRF and Vellore Institute of Technology.
While MegaBite is a wholly owned subsidiary, Elior Group is the major stakeholder in CRCL.
The transaction is expected to close within the next 90 days, subject to customary closing conditions, the statement said.
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