Kelly Enters Agreement To Sell European Staffing Business To Gi Group Holdings S.P.A.; Transaction Expected To Close In The First Quarter Of 2024; Cash Consideration Of €100M With Additional Earnout Potential Of Up To €30M
Portfolio Pulse from Benzinga Newsdesk
Kelly (NASDAQ:KELYA, KELYB) has announced a definitive agreement to sell its European staffing business to Gi Group Holdings S.P.A. for up to €130 million. The transaction is expected to close in Q1 2024. This move allows Kelly to focus on higher margin, higher growth global managed service provider (MSP) solutions, global recruitment process outsourcing (RPO) solutions, and specialty outcome-based and staffing services in North America. The sale unlocks significant capital for Kelly to invest in organic and inorganic growth.
November 02, 2023 | 1:32 pm
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Kelly's sale of its European staffing business to Gi Group for up to €130 million allows the company to focus on higher margin, higher growth solutions in North America. This could potentially boost the company's profitability and stock value.
The sale of Kelly's European staffing business allows the company to focus on more profitable areas of its business. This could potentially lead to increased profitability and a rise in stock value. The transaction also unlocks significant capital for Kelly to invest in growth, which could further boost the company's stock value.
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