Travel services provider Thomas Cook India today said its arm Quess Group will acquire facility management firm Aramark India for an undisclosed sum.
Quess Group, an integrated business services provider has signed a definitive agreement to acquire Aramark India from Aramark, subject to statutory and regulatory approvals, Thomas Cook India said in a filing to the BSE.
The acquisition will strengthen Quess' position as a pan India facilities management player with an integrated offering spanning soft and hard services, pest control and catering, it added.
Quess is an investee company of Fairfax Financial Holdings, held through its Indian listed subsidiary Thomas Cook India.
Commenting on the development, Quess group Managing Director Ajit Isaac said: "The company (Aramark) has a strong presence in niche areas of facility management where we expect to see rapid growth in future. This transaction will strengthen our position as a leading player in the integrated facility management space."
Mumbai-based Aramark India has operations in more than 80 sites across nine states in the country with a workforce of over 2,500.
Thomas Cook said the future brand of the Aramark business will be decided by the new shareholders on or around the closing of the acquisition.
Shares of Thomas Cook India were trading at Rs 196.70 per scrip in the afternoon trade, down 1.60 per cent from the previous close on the BSE.
