Loomis AB: Loomis expands by acquiring Prosegur Cash in France
The final purchase price will be determined on closing of the transaction. The closing date is expected to be in the third quarter, 2019, pending local works council procedures and approval by the French foreign investment regulator. The purchase price is payable on closing.
PCF has approximately 630 employees and the annual net revenue in 2018 was approximately EUR 38.5 million. The acquired operations will be reported in segment Europe and consolidated into Loomis as of closing of the transaction.
"The French cash market is large and important to Loomis. PCF is an operationally solid cash handling business that complements Loomis France present customer portfolio and geographical footprint very well. We look forward to increasing our presence in France and are happy to welcome all new employees and customers to the Loomis group" says Patrik Andersson, President and CEO of Loomis.
April 4, 2019