News Flash

Elis acquires Blesk InCare's Textile activity in Russia

08 Oct '21

2 min read

Pic: Belsk InCare

Elis, an international multi-service provider, offering textile, hygiene, and facility services solutions, which is present in Europe and Latin America, has signed an agreement to acquire 100 per cent of Blesk InCare’s Textile activity. The closing of the transaction is subject to customary regulatory conditions and is expected to occur by the end of 2021.

Elis has been present in Russia since 2017 through the acquisition of Berendsen. After the acquisition of Blesk InCare’s Mats activity in 2019, the Group continues its development strategy to take over the Flat Linen and Workwear business of the Russian group.

Elis’ 2021 revenue is expected at 700 million Russian rubles (c. €8 million), with Flat Linen and Workwear contributing c. 60 per cent and 40 per cent respectively. “Activity was especially resilient during the 2020 pandemic and 2021 revenue will post YoY double-digit organic growth,” an Elis press release said.

“The acquisition of Blesk InCare’s Textile activity allows Elis to expand its portfolio of activities in Russia and to further expand the existing Mats and Ultra-clean services. Outsourcing is still very limited in Russia and the market therefore has a very material growth potential. With this new acquisition, Elis strengthens its positioning in the country and will greatly benefit from the future growth of these very profitable businesses,” Xavier Martiré, CEO of Elis, said.

Fibre2Fashion News Desk (RKS)

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