Acquisition of SAFCO
ECF Group is closing the first 2022 semester with an external growth operation in Oceania. The company SAFCO based in Australia and New Zealand brings a solid client portfolio mostly composed of fast-food companies This acquisition strengthens the ECF group’s footprint in the area alongside of its subsidiary REWARD HOSPITALITY.
As international leader, ECF Group, equipment supplier for Hospitality & Care, announces a strategical acquisition in Australia and New Zealand which strengthens the REWARD HOSPITALITY’s footprint as first distribution and service platform in Asia-Pacific.
The SAFCO company operates on both Australian and New Zealander markets where the Group has a solid position through REWARD HOSPITALITY and the acquisitions of Burns and Ferall (2018) and TAS Hotel (2019). SAFCO is an utensils and heavy equipment supplier for fast-food (Burger King, Subway, KFC, Guzman y Gomez). The company reached €10m revenue with strong growth drivers in upcoming years.
This acquisition results from the Group brand’s consolidation plan in Oceania around REWARD HOSPITALITY. The company Burns and Ferall acquired in 2018 become REWARD HOSPITALITY NEW-ZEALAND.
This acquisition is in line with the strategic plan which combines organic and external growth adding complementary companies with synergy ambitions to its subsidiaries. This strategy shows the post covid financial health of the Group.
This acquisition is conformed with the ECF evolution plan that started in 2017 with the support of Naxicap Partners. Since 2017, the Group realized more than 15 external growth operations with a total revenue of €450m.