Elior Group Acquires CBM Managed Services in the US

Regulatory News:

Elior Group (Paris:ELIOR), one of the world's leading operators in the contracted food industry, has signed a definitive agreement through one of Elior North America’s subsidiaries, Summit Food Service, to acquire CBM Managed Services, expanding the Group's position in the United States in the corrections foodservice market.

Summit Food Service, one of the country’s leading providers of foodservice to correctional facilities, operates in 30 states, serving 350 facilities, both on the local and state level. The addition of CBM Managed Services, based in Sioux Falls, SD, to its portfolio of companies strengthens Summit’s position within the correctional market and provides new opportunities for growth. CBM has just under a thousand employees serving 200 locations in 29 states. CBM generated sales of approximately $70m in FY 2016. The acquisition brings together two of the largest corrections foodservice management companies in the market with combined revenues of more than $230 million.

"By adding CBM to Elior North America’s portfolio of companies, we further expand within the corrections industry and increase our geographic reach. CBM and Summit will leverage their resources and similar business practices to strengthen our customer partnerships,” said Brian Poplin, President and CEO of Elior North America. "Operating in this market is unique; we are fortunate that our culture and our operations show by example our understanding of the role food plays in the wellbeing at a correctional facility.”

CBM has been providing foodservice, commissary, and vending solutions to county, state, municipal and city correctional facilities for more than 25 years. The company operates with a strong commitment to serving its clients by providing quality food, with personalized service, through a highly motivated team of professionals. They are focused on using fresh, high-quality foods and tested recipes within their foodservice programs. CBM attributes its success to the overall understanding that they are not in the food business, but in the business of people, serving food.

CBM will be aligned with Summit to enhance service offerings and programs and the entity will continue to be led by current President and CEO, Marlin Sejnoha.

"We operate in this space as trusted, relationship-driven partners,” said Marlin Sejnoha. "We are aligned with Summit’s values, and joining the family allows us to further strengthen our commitment to this niche industry while offering our employees increased opportunities.”

In case of discrepancy between the French and the English version of this press release, the French version shall prevail.

About Elior Group

Founded in 1991, Elior Group has grown into one of the world's leading operators in the catering and support services industry, and has become a benchmark player in the business & industry, education, healthcare and travel markets. Now operating in 15 countries, the Group generated €5,896 million in revenue through 23,000 restaurants and points of sale in FY 2015-2016. Our 120,000 employees serve 4.4 million people on a daily basis, taking genuine care of each and every one by providing personalized catering and service solutions to ensure an innovative customer experience.
We place particular importance on corporate social responsibility and have been a member of the United Nations Global Compact since 2004 and we reached the GC Advanced level in 2015. The professional excellence of our teams, as well as their unwavering commitment to quality and innovation and to providing best in-class service is embodied in our corporate motto: "Time savored".

For further information please visit our website http://www.eliorgroup.com or follow us on Twitter @Elior_Group

About Elior North America

Elior North America enhances the lives of the people we serve through culinary innovation and a commitment to providing exemplary service. The family of companies, with over 13,000 employees, provides food services and catering to more than 1,100 client accounts in five industry segments across the continental US.

For further information: http://elior-na.com/

About Summit Food Service

Summit Food Service, part of Elior Group, is a national leader in foodservice management for correctional facilities of all sizes, including state-wide operations. The company operates across the country serving 550 facilities with more than 2,500 employees. The management team works closely with our partners to exceed expectations and provide cost-effective and creative solutions.

For further information: http://summitfoodservice.com/

View source version on businesswire.com: http://www.businesswire.com/news/home/20171130005834/en/