The Accor Group, Andera Partners and partner investors today announced that they have entered into exclusive negotiations for Accor to acquire a 63% stake in Potel & Chabot which it does not currently own. After this transaction, Accor will become the sole shareholder of Potel & Chabot which will be consolidated within the Group's Luxury & Lifestyle Division. The contemplated transaction is subject to customary regulatory authorizations. Closing is expected to occur in the fall of 2023.
Founded in 1820, the Potel & Chabot group, now known as Momense, boasts unrivaled expertise in creating tailored reception events. Through its two houses, Potel & Chabot and Saint Clair, Momense has become the preferred caterer for prestigious events in France and the world over. Its services are divided into three categories: corporate events for multinationals and private clientele; major sporting and cultural events such as the French Open, hospitality events of the PSG, the 24 Hours of Le Mans and the Saut Hermès; and private events in exceptional venues located in the heart of the French capital which include none other than the Pavillon Gabriel, the Pavillon Cambon, the Hôtel d'Évreux and the Pavillon Dauphine. In 2023, Potel & Chabot is expected to generate revenue of around €130 million, making a positive contribution to the Group's results.
For Accor, this transaction aligns with its strategy to simplify the Group's minority holdings. By acquiring this distinguished brand, Accor will benefit from an expertise that complements the Group's strategy to deliver augmented hospitality and organize upscale events. The Group will now be positioned to fully combine Potel & Chabot's recognized know-how with its own status as a leading provider of luxury hospitality. As such, Accor guests will benefit from the best services and expertise of tailored reception events.
About Accor
Accor is a world-leading hospitality group offering experiences across more than 110 countries in 5,400 properties, 10,000 food & beverage venues, wellness facilities and flexible workspaces. The Group has one of the industry’s most diverse hospitality ecosystems, encompassing more than 40 hotel brands from luxury to economy, as well as Lifestyle with Ennismore. Accor is committed to taking positive action in terms of business ethics & integrity, responsible tourism, sustainable development, community outreach, and diversity & inclusion. Founded in 1967, Accor SA is headquartered in France and publicly listed on Euronext Paris (ISIN: FR0000120404) and on the OTC Market (Ticker: ACCYY) in the United States. For more information, please visit group.accor.com or follow us on Twitter, Facebook, LinkedIn, Instagram and TikTok.