AccorHotels is being tipped to acquire a share in a long-established French catering and hospitality company.
Exclusive negotiations have been opened with the shareholders of Potel & Chabot to acquire the group’s share capital for an undisclosed price, The Times reported.
Potel & Chabot, founded in 1820, generates revenues of more than €100 million from organising 10,000 receptions for corporate and private clients and events including the French Open tennis at Roland Garros and the 24 Hours of Le Mans.
The company also manages Parisian venues such as Hôtel d’Évreux, the Pavillon Kléber, Pavillon Vendôme and Pavillon Seine, a 70m boat.
As well expanding in France the group has been developing its international business in Switzerland, the Middle East, China, Brazil and the UK, where it opened an office last April.
It operates under two brands – the luxury Potel & Chabot and premium Saint Clair le Traiteur.
Under the deal, which is subject to regulatory approval, Edmond de Rothschild Investment Partners would take a 51% stake in Potel & Chabot, AccorHotels 40% and management most of the rest.
Sven Boinet, deputy chief executive of Accor, said that the tie-up with Potel & Chabot would enable the operator of the Sofitel, Fairmont and Novotel hotel chains to tap into Potel & Chabot’s food and event organisation expertise.
“It gives us a real boost and allows us to create new growth opportunities beyond the world of travel,” he told The Times.
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