Elior Group, an operator in the contracted food industry, has acquired through its Elior UK subsidiary, Waterfall Catering Group, a UK-based contract caterer for the education, care and welfare markets.
Formed in 2007, Waterfall Catering Group has collectively 803 sites across the UK with focus on the growing education and care markets. The company has shown significant growth over the last decade and last year generated revenues of £70 million.
Waterfall Catering Group employs 3,500 people with two customer-facing brands – Caterplus (a care specialist) and Taylor Shaw (an education specialist) which will continue to operate under their current brands as part of Elior Group.
The acquisition significantly strengthens Elior Group’s position in the UK and is the second for Elior Group in the UK after Lexington Catering in September 2014.
Commenting on the acquisition, Philippe Salle, Elior Group chairman and CEO, said:
“This acquisition is fully part of our 2016-2020 strategic plan to expand our presence in priority markets. Waterfall Catering Group’ strong client portfolio and its outstanding expertise will greatly support our ambition to be part of the top contract caterers in the UK market and double the size of the activity there by 2020. The market presents joint opportunities, in segments in which Elior Group has a referent position: education, healthcare and premium business & industry. We intend to continue to expand in the United Kingdom both organically and through M&A, and Waterfall Catering Group’s acquisition mirrors perfectly our strategy.”
Catherine Roe, CEO of Elior UK, commented:
“This is an exciting move for both Elior UK and Waterfall Catering Group. Together we share a common passion for delivering great customer experiences and innovative food services. The acquisition allows Elior Group to strengthen its growing market position in the UK and enhance the support and resource available to our respective customers.”
Waterfall Catering Group CEO Jim Lovett added:
“We share similar values and a similar ethos in terms of our approach towards clients, attention to detail and great food. The combined effect of our two businesses and our differentiation and specialism will make us an even more powerful force in the care and education markets.”
All employees will remain part of the team going forward. Chairman Vince Pearson, CEO Jim Lovett and CFO Gabrielle Higham will keep their position and will remain as minority shareholders to oversee the next phase of growth.