As an integrated Group operating in all event professions, GL events works in three major segments:
event organisation, event venue management and services for fairs, congresses and events.
© Odile Decq architect / Felice Varini – Altitude 150
GL events today announces the signature of a memorandum of understanding for the acquisition of BRELET and its subsidiary, BRELET CENTRE EUROPE. An addition that will further strengthen GL events' Services division.
Founded in 1957 in Nantes, BRELET is a top-tier provider in the French market for event installations and temporary facilities well known for its know-how and the quality of its work.
BRELET generates average annual revenue of €15 million through event agencies and trade fair organisers servicing more than 15 French exhibition centres. Its portfolio of business includes four prestigious recurrent events: the Monte Carlo Rolex Tennis Masters tournament, Alstom French Open Golf Championship, Grand Pavois International in-Water Boat Show of La Rochelle and the Cannes International Boat & Yacht Show. Through its subsidiary BRELET CENTRE EUROPE, for nearly 10 years the group has also operated in the long-term rental market for structures, generating €3 million in additional revenue.
This acquisition will enable GL events to:
- Further strengthen its presence and geographical coverage in the French market for the installation of event structures and general installations for exhibitions;
- Complete Spaciotempo's offering in the long-term rental segment for temporary buildings and installations and generate new synergies.
In line with the group's corporate culture, all BRELET teams of both management and staff will remain fully focused on developing the company and, in this way, contribute to optimal operational performances within the overall GL events Group.
Subject to the results of due diligence, this acquisition is expected to be completed within the next two months and consolidated by the GL events Group as of 1 March 2011. Given the profitability of its operations and good fundamentals, the operation will have an accretive effect on Group earnings beginning in 2011.
2010 net sales: 1 February 2011 (after the close of trading)
GL events, bringing people together
Managing Director Corporate Finances and Administration : Erick ROSTAGNAT
Telephone : + 33 4 72 31 54 20
Fax : + 33 4 26 20 42 00
Email : email@example.com
Code ISIN : FR0000066672
Code Bloomberg : GLO FP
Code Reuter : GLTN.PA
Code FTSE : 581
Erick Rostagnat - Managing Director Corporate Finances and Administration:
Tel : +33(0)4 72 31 54 20