Randstad N.V.
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Publicatie datum
04 apr 2013 - 07:30
Statutaire naam
Randstad N.V.
Titel
Randstad to acquire part of European staffing activities of USG People
Bericht
Key points
• Randstad to acquire staffing activities of USG People in Spain, Italy, Poland, Switzerland, Luxembourg and Austria
• Randstad will increase its market position and density of its network
• An investment of € 20 million to add revenue of € 434 million
• The transaction offers a significant opportunity for value creation and will be immediately accretive to Randstad’s earnings per share
Today, Randstad announced that it signed an agreement with USG People whereby Randstad will acquire USG People’s general staffing activities in Spain, Italy, Poland, Switzerland, Luxembourg and Austria. Within these countries, except for Austria, both businesses have a comparable offering and geographic coverage, which creates a unique strategic opportunity.
Ben Noteboom, CEO of Randstad says: “This transaction offers Randstad an opportunity to increase the density of our network which is important for reaching our strategic targets. Randstad will become the number one player in Spain, Poland and Luxembourg, while we increase our market position in Italy and Switzerland. The transaction also enables us to access the Austrian market. The combined activities benefit both clients and candidates and offer development opportunities for employees.”
The acquired activities of Bear generate revenue of € 434 million (FY 2012), mainly in general staffing and include over 800 corporate employees and 189 outlets. Randstad’s revenue in the countries in scope amounts to € 1.2 billion (FY 2012). The consideration to be paid amounts to € 20 million and does not exceed the working capital of the activities in scope. As such, the transaction is considered not material for Randstad’s financial position. Randstad will benefit from significant cross-selling opportunities, such as the introduction of inhouse services and sharing of best practices and processes. Our focus will be on capturing profitable growth, client profitability, and optimizing delivery models. Combined with further e
Datum laatste update: 02 september 2024