The French hotel group and Edmond de Rothschild Investment Partners have entered exclusive negotiations with Potel & Chabot’ shareholders to acquire the group's entire share capital. The group wants to add an upscale restauration branch to its activities, six years after giving up the caterer Lenôtre to the group Sodexo.
Potel & Chabot is an upscale caterer organizer with an annual turnover of about 70 million euros. It operates six pavilions in Paris and also has addresses in the PACA region, in Nouvelle Aquitaine, in Switzerland, in China, in Brazil and in the United Kingdom. The company operates under two brands: Potel & Chabot (positioned on the luxury segment) and Saint Clair Traiteur (premium segment). Its offer is mainly B to B. The group organizes corporate receptions but also major sporting and cultural events and creates pop-up restaurants. The acquisition of its capital by the two groups should enable it to reinforce its development especially toward the French operator's MICE clientele.
Franck Jeantet, Chairman and CEO of Potel & Chabot, said: "We are delighted that two major, highly experienced leading investors are taking a stake in our Group’s share capital. It will enable us to support our growth in the luxury hospitality industry both in France and internationally. This new alliance with AccorHotels, a world leader in hospitality, its hotel infrastructures throughout the world and its digital concierge services will allow us to strengthen our leadership in the luxury sector and enhance the expertise of our talents, notably by sharing it through the creation of a “Potel & Chabot Academy”. The shared passion of our teams for service, the commitment to excellence and the customer experience will, I firmly believe, be a real driving force in the development of many projects."
Sven Boinet, Deputy Chief Executive Officer of AccorHotels, added: "I am delighted to close this remarkable partnership which, I am sure, will result in numerous opportunities for our respective groups. The partnership of AccorHotels with Potel & Chabot - a legendary luxury brand which offers a wide range of services to a vast network of partners, made up of high-end clients, large corporates and major events – brings a complementary dimension and expertise to our F&B and event organization strategy. Moreover, the combination of their knowledge with our leading positions in luxury hospitality, private rental and concierge services will provide our clients with unique services and expertise regarding tailor-made events. It gives us a real boost and allows us to create new growth opportunities beyond the world of travel."
As a reminder, until 2011 Accor was the owner of the caterer Lenôtre. The CEO at the time, Denis Hennequin, sold it to Sodexo because of the group’s desire to focus on its hospitality branch. Life is an eternal cycle and strategies are adopted to adapt to the circumstances of the moment. This operation contributes to the diversification of the French operator's portfolio and remains subject to approval by employee representative bodies.
As of January 1, 2017, the group ranked 1st largest hotel operator in terms of rooms, with 2,604 properties and 282,814 rooms, according to data published by Hospitality ON.
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