Sodexo strengthens purchasing power with acquisition of PSL, leading procurement provider to the UK Hospitality Industry
October 17, 2016
Sodexo, world leader in Quality of Life services, announced today the acquisition of procurement specialist PSL.
Established in 1993, PSL has become a leader in fresh food procurement in the UK with its integrated approach of procurement, operations and systems support. This acquisition will reinforce Sodexo’s proposition to deliver market-leading food cost management solutions to its clients including real-time e-platforms to facilitate efficient procurement and operational support to maximise food savings, ranging from menu engineering to waste management. Moreover, thanks to Sodexo’s geographic coverage and diverse client base, PSL will develop its business across Europe and capitalise on new product line opportunities, as well as expand its client base beyond the hospitality sector.
The move, which echoes Sodexo’s successful US-based GPO (Group Purchasing Organisation) Entegra, further cements the Group’s long-term strategy of harnessing business intelligence to identify additional opportunities for value creation for its clients.
Michel Landel, Sodexo Chief Executive Officer, said: “With PSL’s market-recognised data solutions and supplier network, we will expand our service offer with new ways to create value for our clients, and extend PSL’s business into new geographies and new sectors.”
Daniel Wilson, Managing Director of PSL, said of the acquisition: “I and the management team of PSL are delighted to be joining Sodexo, a global leader in the services industry, which will bring fantastic opportunities not only for both businesses but also for our employees, clients and suppliers.”
To read the full version of the press release, please download the PDF.
Press release (PDF)