The deal is Sodexo’s seventh M&A deal in the US convenience services sector since 2022 as is seeks to expand the reach of its retail convenience business, InReach
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Sodexo serves 80 million consumers daily across more than 45 countries | Photo credit: via Shutterstock
French contract catering and facilities management group Sodexo has announced the acquisition of Pennsylvania-based CRH Catering – its seventh M&A deal in the US convenience services sector since 2022.
Founded in 1967, CRH Catering provides foodservice solutions in the states of New Jersey, Maryland, North Carolina, Virginia, West Virginia and Pennsylvania. Alongside a network of self-serve vending machines and micromarkets, CRH Catering also operates an office coffee service in partnership with major brands, including Starbucks, Eight O'Clock, Folgers and Maxwell House.
In a press release, Sodexo said the acquisition expands the reach of its retail convenience business, InReach, in the fast-growing $30bn US convenience market. The deal will also support Sodexo’s goal to reach $500m revenues from its InReach division by the end of 2025.
“The acquisition of CRH Catering represents a significant step in our growth plans by expanding InReach’s retail offerings in the US. 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,” said Sarosh Mistry, CEO, Sodexo North America.
The transaction, expected to complete by July 2025, follows the acquisitions of Delaware-based vending machine operator K&R Vending Services and Texas-based Capitol Vending and Coffee in January and July 2024.
Founded in Marseille in 1966, Sodexo serves 80 million consumers daily across more than 45 countries, providing integrated food, facilities management and organisational services to corporate, education, healthcare, senior living, leisure and government sectors clients.
Sodexo achieved 5% year-on-year sales growth in the 12 months ended 31 August 2024 to reach €23.8bn ($25.7bn).