Recruit Holdings pushes further into hospitality with Euro 200 million buy
Recruit Holdings is becoming an increasingly visible force in travel and hospitality.
First, the venture arm of the staffing conglomerate invested in vacation rental platform Tripping.com. Now the company has stepped up massively with a nearly Euro 200 million stock purchase of German restaurant reservation site Quandoo.
So why would a staffing company spend so much money on a restaurant reservation site?
Well, Recruit may just have one of the most untraditional M&A strategies around, as it pursues opportunities in 10 verticals where its sales expertise can improve the bottom line of its acquisition targets. Revealed in its disclosures related to the sale is one slide that explains it all: