Elior Group acquires MegaBite Food Services and CRCL in India

Elior Group has entered the Indian food industry by acquiring contract caterers MegaBite Food Services and CRCL.

Elior Group subsidiary Elior India will be serving approximately 135,000 meals a day with more than 3,500 employees.

Elior Group chairman and CEO Philippe Salle said: “This move in India allows us to expand into emerging markets, which is one of the objectives of our 2016-2020 strategic plan.

“We believe India is one of the most promising markets with significant growth potential and a very fragmented profile. The combined acquisitions of MegaBite and CRCL will position the group among the top three contract caterers in the Indian market.”

Founded in 2005, MegaBite Food Services provides premium corporate catering in Bangalore, India, offering approximately 28,000 meals each day.

MegaBite Food Services chef Prabhakar said: “We look forward to harnessing their global expertise to delight our customers even more as this has been the core of our value proposition. We believe this relationship can help us introduce more innovative offerings for our customers.”

While Elior Group has completely acquired MegaBite, the former has bought a majority stake in Chennai-based industrial catering company CRCL.

CRCL managing director D R E Reddy said: “We look forward to this partnership which we believe will deliver a higher value to our customers and enable this business to move to the next level. This will be a strong platform for accelerated growth over the coming years. We expect this alliance to achieve global standards.”

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