Paris, November 12, 2024.
With the acquisition of CRH Catering, premier convenience solutions provider and one of the largest independent operators in the Mid-Atlantic region, Sodexo is building on its food model transformation by expanding its InReach offerings and footprint in the fast-growing, $30-billion U.S. convenience market.
With CRH Catering, Sodexo is reinforcing its territorial presence in the East Coast and broadening its multi-channel offerings with additional micro-markets, vending, office coffee, pantry, fresh food and on-site food services. CRH Catering's commissary will also accelerate strategic synergies between offsite production and convenience in key Northeast and Mid-Atlantic markets, supporting Sodexo's target to reach $500 million in revenue from InReach by end 2025.
This new acquisition reflects Sodexo's ambition to upgrade and scale its new food distribution models to address fast-changing consumer needs and behaviors, such as grab-and-go fresh food, healthier snacks and beverages, in the hybrid work environment. This is Sodexo's seventh acquisition in the convenience services sector since 2022.
Established in 1967, CRH Catering is a family-owned business long recognized for delivering service excellence and a client-focused approach. CRH Catering operates in Pennsylvania, Maryland, Virginia, West Virginia, New Jersey, and North Carolina.
The closing of the acquisition is expected in the first half of Fiscal 2025.
"The acquisition of CRH Catering represents a significant step in our growth plans by expanding InReach's retail offerings in the U.S. It reflects our ambition to become a leader in on-site convenience solutions. With this deal, we'll be able to rapidly expand our presence in the Northeast and Mid-Atlantic markets to further meet the growing demand that clients and consumers are showing in innovative retail options. We look forward to welcoming and working closely with CRH Catering, a company with an outstanding reputation, and a world class team. We expect this to be a great fit culturally and to be able to seamlessly transition the business in the coming months" said Sarosh Mistry, CEO Sodexo North America.
Joe and Peter Cordaro, President and VP of CRH Catering, said: "We are thrilled to join Sodexo and contribute to InReach expansion. As a family-owned company, we share the same values, culture and passion for service excellence. We are proud to bring our technologies and expertise to deliver high-value consumer experiences across North America."
About Sodexo
Founded in Marseille in 1966 by Pierre Bellon, Sodexo is the global leader in sustainable food and valued experiences at every moment in life: learn, work, heal and play. The Group stands out for its independence, its founding family shareholding and its responsible business model. Thanks to its two activities of Food and Facilities Management Services, Sodexo meets all the challenges of everyday life with a dual goal: to improve the quality of life of our employees and those we serve, and contribute to the economic, social and environmental progress in the communities where we operate. For Sodexo, growth and social commitment go hand in hand. Our purpose is to create a better everyday for everyone to build a better life for all.
Sodexo is included in the CAC Next 20, Bloomberg France 40, CAC 40 ESG, CAC SBT 1.5, FTSE 4 Good and DJSI indices.
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About CRH Catering Co., Inc.
CRH Catering is a full-line industrial catering and food service company that has been in business since 1967. CRH Catering has grown from a local company started in Connellsville, Pennsylvania, to one of the largest automatic food and beverage distribution companies in the Mid-Atlantic region. CRH covers most of Pennsylvania, Maryland, and Virginia and parts of West Virginia, New Jersey, and North Carolina. CRH is leading the industry in technology by offering cashless vending, dynamic scheduling, and a cloud-based inventory management system which allows to track sales, current inventories, cash accountability, and machine malfunction in one click of a mouse. CRH also operates its own bottled water plant in Uniontown, PA, specializing in 20 oz. and 5-gallon bottled water along with private labeling. Each of the divisions also specializes in office coffee sales.
Contacts Media
| Group | U.S. | |
| Mathieu Scaravetti +33 6 28 62 21 91 mathieu.scaravetti@sodexo.com | Stéphanie Peterson +1 859-913-6501 stephanie.peterson@sodexo.com | |
| Contacts Investor Relations | ||
| Virginia Jeanson +33 1 57 75 80 56 Virginia.jeanson@sodexo.com | ||
Attachment
- Sodexo - PR CRH Catering ENG (https://ml-eu.globenewswire.com/Resource/Download/3965d794-e9a0-410d-abba-8916b80efcd7)
