Elior Group to Acquire Preferred Meals, Strengthening the Company’s Position in the US Education & Senior Nutrition Markets

, one of the world’s leading operators in the contracted food
industry, has signed a definitive agreement through its US subsidiary,
culinary management leader Elior
North America
, to acquire Preferred Meals, an Illinois-based
provider of meals, fresh-prepared snacks and frozen-prepared snacks,
entrees, and complete meals for contract catering and home delivery. In
operation since 1967, Preferred Meals, which serves over 130 million
meals annually in 30 states across the US, provides affordable and
nutritious foodservice to niche markets, primarily those serving the
education and senior markets. The company generated revenues of c. $225
million dollars in FY 2015.

“This acquisition is part of the company’s 2016-2020 strategic plan to
accelerate development within growing markets,” said Philippe
, Elior Group’s Chairman and CEO. “The US contract catering
market offers significant opportunities, notably in the four niche
segments in which we are currently positioned; the senior nutrition,
K-12 private schools in education, corrections (especially county
jails), and premium business and industries. We intend to continue to
expand there both organically and through acquisitions, and Preferred
Meals fits perfectly into this strategy.”

Preferred Meals will continue to operate under its current brand as part
of the Elior North America family of companies, and will be led by
George Chivari, its current President and CEO, who will report directly
to Brian
, Elior North America President and CEO. All Preferred Meals’
1,600 employees will remain part of the team going forward.

“The addition of Preferred Meals to our portfolio takes us deeper into
markets we currently serve and expands our offerings into new areas,”
said Poplin. “In the education market, we will now be able to supply
smaller schools, many of which have no kitchen or cafeteria, with
prepared meals that do not require full kitchen facilities. And in the
senior market, the addition of Preferred Meals strengthens our ability
to provide prepared fresh and frozen meals for senior living facilities
and expand our home meal delivery distribution.”

The acquisition greatly enhances Elior North America’s production and
distribution channels, adding six strategically located production
kitchens and 13 distribution centers across the US.

“We are looking forward to joining the team members at Elior North
America, bringing our best practices, and our shared commitment to the
clients,” said Chivari. “For our employees, there is now tremendous
opportunity throughout the family of companies we’re joining, and for
our clients, access to additional resources will allow us to invest in
our infrastructure, giving us the ability to enhance our operations with
new technology and culinary innovation.”

The transaction is expected to close within the next 90 days, subject to
customary closing conditions.

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.

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 is now a
benchmark player in the business & industry, education, healthcare, and
travel markets.

In FY 2014-2015, it generated €5,674 million in revenue through 18,600
restaurants and points of sale in 13 countries. Our 108,000 employees
serve 4 million customers 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. 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: http://www.eliorgroup.com
Elior Group on Twitter: @Elior_Group


Elior Group
Debbie Albert, 215-283.6006