Yahoo Finance Sodexo enters into exclusive negotiations to combine its childcare activities with those of the Grandir Group
Issy-les-Moulineaux, July 27, 2021 7:30 am, French time - Sodexo (NYSE Euronext Paris FR 0000121220-OTC: SDXAY).
Sodexo Group, world leader in Quality of Life Services, enters a new chapter in the development of its childcare activities by entering into exclusive negotiations to combine its global childcare services, including Liveli in France, with those of the Grandir group. Together, Sodexo and Grandir will create an ambitious project to become a global early education leader.
Since 2010, Sodexo has built an attractive network of childcare centers in France with Liveli, one of the largest players in the French childcare market, and progressively expanded operations in Germany, Spain and India.
Co-founded in 2000 by Jean-Emmanuel Rodocanachi, Grandir is a reference player in France and a pioneer in the development of the French private nursery market. In more recent years, Grandir has grown internationally and selectively entered new markets in Canada, the US, the UK and Germany.
This partnership with Grandir would bring together Sodexo’s global childcare activities with those of an expert and leader in the global early education sector. Following this transaction, subject to the customary consultations with work councils, Sodexo would become a minority shareholder of the Grandir Group.
Grandir and Sodexo share the common view that the provision of quality early education is an essential service for society. They will work together as shareholders to ensure this critical mission for their employees, the children, their parents and their clients.
About Sodexo Childcare Services
Sodexo entered the childcare market in 2010 with the acquisition of Crèche Attitude, and expanded its activities internationally since, Sodexo operates in France through Liveli with circa 300 centers and in Germany with Elly & Stoffl, in Spain with Nemomarlin and in India through a minority stake in Ipsaa Daycare, with Fiscal 2020 revenue of 146 million euro. Sodexo’s childcare services, integrated into its Personal and Home Services business, employ c.3,500 people across its locations and are highly recognized for their quality, the rich educational content provided to children as well as the strong commitments as an employer, in line with the values of Sodexo Group.
About the Grandir Group
The Grandir group is a leading provider of high-quality childcare, back-up care, early education and parenthood services. Grandir has been contributing since 2000 to a better work-life balance for parents and employers, operating over 650 centers in Europe and North America with a dedicated team of 10,000 employees for an annual turnover of circa 400 million euros. The country specific proprietary education curriculums are recognized by the industry. Grandir serves over 32,000 families in France, England, Germany, Canada and the USA. Its Corporate project Grandir 2024 enhances the company’s long-term belief in the value of quality education.
About Sodexo Group
Founded in Marseille in 1966 by Pierre Bellon, Sodexo is the global leader in services that improve Quality of Life, an essential factor in individual and organizational performance. Operating in 64 countries, Sodexo serves 100 million consumers each day through its unique combination of On-site Services, Benefits & Rewards Services and Personal & Home Services. Sodexo provides clients an integrated offering developed over more than 50 years of experience: from foodservices, reception, maintenance and cleaning, to facilities and equipment management; from services and programs fostering employees’ engagement to solutions that simplify and optimize their mobility and expenses management, to in-home assistance, child care centers and concierge services. Sodexo’s success and performance are founded on its independence, its sustainable business model and its ability to continuously develop and engage its 420,000 employees throughout the world.
Sodexo is included in the CAC Next 20, CAC 40 ESG, FTSE 4 Good and DJSI indices.
Key figures
19.3 billion euro in Fiscal 2020 consolidated revenues
420,000 employees as at August 31, 2020
#1 France-based private employer worldwide
64 countries
100 million consumers served daily
11.6 billion euro in market capitalization (as at June 30, 2021)
Contacts
Analysts and Investors | Media |
Virginia JEANSON | Dan BLANCHARD |
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