Acquisition of HISCO PTY Ltd
ECF GROUP announces a new M&A operation in Asia-Pacific with the acquisition of HISCO PTY Ltd, based in Perth, which for almost 40 years has established itself as an industry leader in the Foodservice, Hospitality & Health sectors in Western Australia. This operation is the third since the beginning of the year for ECF Group in the region, which thus consolidates the growth dynamic and the leadership of the Franco-Australian group. HISCO PTY Ltd will gradually integrate the Commercial, Digital and Supply Chain system of REWARD HOSPITALITY, the reference brand for Hospitality & Care in Australia-New Zealand.
At the end of this operation, the group's annual turnover will amount to €630m, with 220,000 customers, 20 brands in 20 countries and more than 1,500 employees worldwide.
announces a third acquisition in Australia which strengthens the presence of REWARD HOSPITALITY in the region. After the acquisition of SAFCO (June 2022) and CHEMWORKS (September 2022), the acquisition of HISCO will allow the group to serve all customers, in all trades and in all territories of Australia, thus strengthening the position of the group as the only multi-business and omnichannel distribution & service platform for Hospitality, Care operators and Public & Governmental Institutions.
HISCO is the leader in the distribution of small equipment, kitchen equipment and textiles for the hotel industry in Western Australia, based in Perth, and managed by Brett THOMPSON and Murray McHENRY, its founder who created HISCO in 1985. By becoming a member of ECF Asia Pacific, HISCO will have access to a broader and more comprehensive product offering, greater logistics capacity, digital tools and access to ECF Group support globally.
The importance of maintaining proximity to customers and local management is essential to the success of our businesses: it is a conviction and a strong value of ECF Group. Thus, at the end of an integration phase of approximately 6 months which will bring together the operations of the two entities under the single REWARD HOSPITALITY brand, the new regional branch of the group based in Perth will be managed by Brett THOMPSON and Alex ENGLAND, current leaders of HISCO who join the group on this occasion and whom we are delighted to welcome.
This acquisition is part of the profound evolution of ECF Group initiated since 2017 with the support of its shareholders, in particular Naxicap Partners. The group's M&A activity has made it possible to carry out around thirty external growth operations over the past 5 years.
Subject to certain final conditions, the completion of the sale must be effective on November 30, 2022.
Interview :
Christophe ALAUX, Chairman and CEO of the ECF Group, explains :
« This third regional M&A transaction constitutes a major transformation for REWARD HOSPITALITY, our key brand in the region, which now fully covers all the businesses and all the territories of the countrycontinent making up Australia. This operation will enable us to better serve our customers and will provide them and our partners with global coverage for their own development ».
Brett THOMPSON, Managing Director de HISCO, adds :
« We are delighted that ECF Group recognises and values the strength, quality and future potential of our business. We are very pleased to be joining the Group and look forward to continuing to provide service and product excellence to all our valued customers ».
David BULL, CEO of ECF Asia-Pacific and CEO of REWARD HOSPITALITY, adds :
« The combination of REWARD HOSPITALITY and HISCO will create a single, strong provider: our combined strengths will create the largest and most diverse platform in the region which will greatly benefit the rapidly growing Western Australian market. We look forward to welcoming the HISCO team under our banner ».