Sodexo Completes Sale of Vivabox
September 18, 2017
Sodexo has completed the sale of Vivabox USA (“Vivabox”) to Lion Equity Partners. Vivabox is a leading provider of products and services to the sample and subscription box industry.
Vivabox is a profitable subsidiary providing specialized marketing services to retail businesses. The activity was not a core strategic service for Sodexo and the Group decided to accept Lion Equity Partners’ offer for Vivabox, having sold the European Vivabox activities in 2015.
The disposal of this activity generated a capital gain in FY 2017.
The Group confirms its operating profit growth guidance at the bottom of the 8-9% range for FY2017. The currency impact on operating profit will remain just slightly positive, but less than in the first half given the recent strength of the Euro against the US dollar, Sterling and the Brazilian real.
To read the full version of the press release, please download the PDF.
Press release (PDF)