Staffing firm Adecco set to acquire HumanGroup, a Spanish HR services company.

Adecco Acquires Humangroup, Strengthening Presence in Spanish HR Services Market

In a significant move, The Adecco Group, a Fortune Global 500 company and the world's leading HR services provider, has announced the acquisition of Spanish HR services company Humangroup. This acquisition is expected to be accretive to EPS as of 2006, subject to approval by the antitrust authorities.

The acquisition of 100% of Humangroup, valued at EUR 57 million plus debt assumed of EUR 9 million, will further expand Adecco's offering as the leading HR services firm in Spain. Humangroup, with sales of EUR 240 million, offers staffing services under the AltaGestión brand and outsourcing solutions under the Eurocen, Extel, and Eurovendex brands.

Humangroup, which has been operating in the Spanish HR services market for 20 years, operates through 118 branches in Spain and Portugal. Its network connects up to 17,500 associates with more than 10,000 clients daily.

The combined entity of Adecco and Humangroup will have approximately 1,900 employees and 428 branches. Adecco S.A., registered in Switzerland and listed on SWX Swiss Exchange, the New York Stock Exchange, and Euronext Paris, comprises three divisions: Adecco Staffing, Ajilon Professional, and LHH Career Services.

Adecco's group network connects up to 700,000 associates with business clients each day through its network of 30,000 employees and over 6,000 offices in 70 territories around the world.

For media inquiries, please contact the Adecco Spain Press Office at Sara Baeza, Tel. +34 91 432 56 30. For corporate inquiries, please contact the Adecco Corporate Press Office at [email protected] or Axel J. Schafmeister, Tel. +41 1 878 8832.

Pictures of Adecco's offices can be downloaded from the Press Office photo library at www.adecco.com. Unfortunately, Humangroup does not have a separate press office listed in the article.

In 2005, no available search results specified which company acquired Humangroup, nor the purchase price. However, the acquisition was not mentioned in any search results until 2006, when the announcement was made.

This acquisition marks a strategic move for Adecco, strengthening its position in the Spanish HR services market and expanding its offerings in staffing services and outsourcing solutions. With this acquisition, Adecco continues to solidify its position as a global leader in HR services.