Randstad Holding nv has agreed to sell its French subsidiary
Randstad Holding nv has agreed to sell its French subsidiary Selpro to a Activa Capital, a French mid market private equity company, in association with the management team.
In 2009, Vediorbis and Randstad have been integrated and rebranded to Randstad, reinforcing a strong number 3 position in the French staffing market. In 2009 the combined French businesses generated revenue of 2.9 billion.
Selpro, a staffing company with 42 branches and operating through 4 brands, primarily targeting small and mid-size enterprises, has always been managed with a high degree of autonomy. In 2009, Selpro generated revenue of 63 million. The divestment is in line with Randstads strategy to focus on a limited number of brands, a strong unified culture, and harmonized concepts and processes.
The transaction, that still needs to be approved by the French anti-trust authorities, is expected to be completed in September. The transaction is expected not to have a material impact on Randstads profit or financial position.