Accor to Sell Lenôtre (France)
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Accor to Sell Lenôtre (France)
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Category: Europe - France - Industry economy -
Group or hotel buyout
This is a press release selected by our editorial committee and published online for free on 2011-07-22
Accor announces that it has entered into exclusive negotiations with Sodexo for the sale of Lenôtre at an enterprise value of €75 million.
This project will be submitted to the relevant authorities, notably anti-trust authorities. Moreover, there will be an information and consultation process with the relevant employee representative bodies.
Denis Hennequin, Chairman and Chief Executive Officer, said: “I’m very pleased about the interest expressed by Sodexo as an ideal buyer, enabling Lenôtre to continue its development while benefiting from increased resources. Once this sale has gone through, Accor will be fully focused on the hotels business.”
About Accor
Accor, the world's leading hotel operator and market leader in Europe, is present in 90 countries with 4,200 hotels and more than 500,000 rooms. Accor's broad portfolio of hotel brands - Sofitel, Pullman, MGallery, Novotel, Suite Novotel, Mercure, Adagio, ibis, all seasons, Etap Hotel, Formule 1, hotelF1 and Motel 6, and its related activities, Thalassa sea & spa and Lenôtre - provide an extensive offer from luxury to budget.
With 145,000 employees worldwide, the Group offers to its clients and partners nearly 45 years of know-how and expertise.
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