Sodexo yesterday strengthened its purchasing power by agreeing to acquire PSL, a leading procurement provider to the UK hospitality industry.
PSL was established more than 20 years ago and has become a leader in fresh food procurement in the UK with its integrated approach of procurement, operations and systems support.
Sodexo says it bought the company 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.
The Paris-listed catering and facilities management will also use its geographic coverage and diverse client base to develop PSL’s business across Europe and capitalise on new product line opportunities, as well as expand its client base beyond the hospitality sector.
The business also echoes Sodexo’s successful US-based GPO (Group Purchasing Organisation) Entegra.
Michel Landel, CEO of Sodexo, 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.”
Sodexo made sales of €20 billion (£18 billion) last year and employs 420,000 employees, making it the 19th largest employer in the world.
The value of the acquisition was not disclosed.