Elis announces the closing of the acquisition of Kings Laundry in Ireland

Elis announces the closing of the acquisition of Kings Laundry in Ireland

Saint-Cloud, 07 July 2020 - Elis, an international multi-service provider, offering textile, hygiene and facility services solutions across Europe and Latin America, is continuing its expansion strategy in its key markets with the closing of the acquisition of 100% of Kings Laundry in Ireland.

Kings Laundry operates two plants in Cork and in Dublin that are dedicated to Flat Linen. It generated revenues of c. 35 million euros in 2019.

Following the signing of the acquisition in July 2018, the CCPC (Competition and Consumer Protection Commission) mandated the sale of a client portfolio worth c. €800,000 euros in the Healthcare segment before the deal could be finalized.

Commenting on this announcement, Xavier Martiré, CEO of Elis, declared:

"The acquisition of Kings Laundry is an additional step in our development in Ireland. The quality of Kings Laundry's assets as well as the experience of its management team will facilitate the integration of the company, whose founder will become country CEO."

Contacts

Nicolas Buron
Investor Relations Director - Phone: [phone] - [e-mail]

Audrey Bourgeois
Investor Relations - Phone: [phone] - [e-mail]

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