Circles Acquired by Sodexho Alliance

Circles, a leading loyalty services company, announced today that it has agreed to be acquired by Sodexho Alliance, an $18.8 billion multi-national company with a strong presence in North America and globally. Terms of the transaction were not disclosed.

Sodexho The Jordan, Edmiston Group, Inc., the New York-based provider of independent investment banking services for the media and information industries, represented Circles in this transaction and acted as its exclusive financial advisor.

Headquartered in Boston, Circles (www.circles.com) creates and delivers concierge, personal assistant, experience and event programs for its clients, including Fortune 1000 companies. These companies provide Circles programs to their customers and employees, driving customer and employee acquisition, retention and loyalty.

This acquisition reinforces Sodexho's expertise in Quality of Life services and will provide strong synergies for Sodexho and Circles in all of Sodexho's client segments in North America. Bruno Vanhaelst, in charge of business development at Sodexho, notes, "We've chosen to partner with Circles because their expertise in delivering programs that directly improve quality of life is unparalleled."


"Sodexho identified Circles, with our unique capabilities, dominant market position and incredible team of 750+ employees, as their desired strategic partner, and we could not be more pleased," says Kathy Sherbrooke, President & Co-Founder, Circles.

Janet Kraus, CEO & Co-Founder, Circles, notes, "Sodexho's mission and values are remarkably well aligned with Circles' mission and values, which was very important to our decision to ally with them. We are extremely excited about Circles future as part of the Sodexho community."

Following the consummation of the transaction, Circles will operate as a free-standing subsidiary of Sodexho, and Kathy Sherbrooke will become CEO.

Sodexho Alliance (www.sodexho.com) was founded in 1996 by Pierre Bellon and is the leading global provider of Food and Facilities Management Services, with more than 332,000 employees on 28,300 sites in 80 countries. Listed on the Euronext Paris exchange, the company's current market capitalization is more than 7.9 billion euro.

The Jordan, Edmiston Group, Inc. of New York, NY (www.jegi.com) is a leading provider of independent investment banking services for the media and information industries. As a leading M&A advisor to media and information companies, JEGI has closed numerous high-profile transactions for: Global Media and Information Companies, Entrepreneurial Owners, and Private Equity and Venture Capital Funds.

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