Casino Group announced the disposal of its contract catering services, R2C, to Compass Group.
The transaction is expected to be completed by the first semester of 2019, subject to prior consultation of the employee representative bodies and the approval of the French Competition Authority.
This transaction is in line with Casino Group’s strategy to refocus on its core businesses and will improve its profitability and further strengthen its financial profile.
About Casino Group:
A well-established player in the French retail industry since 1898, the Casino Group is also a leader in the global food retail market, with more than 12,000 stores worldwide – in France, Latin America and in the Indian Ocean region – and total sales of around 37 billion euros in 2018. The Casino Group is listed on the Paris Stock Exchange with a market capitalisation of 4.6 billion euros.
About Compass Group:
Active in more than 50 countries, Compass Group is the global leader in contract catering services with more than 5 billion meals served per annum and total revenues of around 26 billion euros in 2018. Listed on the London Stock Exchange and member of the FTSE 100, Compass Group has a market capitalisation of 32 billion euros.