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Kelly Services Inc. (NASDAQ: KELYA) sold its Brazilian staffing operations to GI Group, a global staffing firm ...
Kelly Services Inc. (NASDAQ: KELYA) sold its Brazilian staffing operations to GI Group, a global staffing firm based in Italy. The deal closed this month; terms of the transaction were not announced.
Kelly’s Brazilian operations posted 2019 revenue of 134 million Brazilian reals (US$24.1 million). It has two offices in Rio de Janeiro and São Paolo, focused on retail, life science and technology staffing.
The acquisition will add to GI Group’s operations in Brazil; the company has been operating in the country since 2008.
GI Group CEO Stefano Colli-Lanzi said the deal helps reinforce the company’s role as a global player in HR services and is in line with its medium-term objective of €6 billion of turnover by 2023.
“We are mindful of the difficulties that [Brazil] is facing, but this is all the more reason why we believe that a well-structured HR company like GI Group can give real impetus to recovery, responding to the needs of businesses and people,” Colli-Lanzi said.
The deal follows GI Group’s acquisition of US-based outplacement firm CareerArc in July.
GI Group’s acquisition of Kelly Services’ Brazilian operations is a win-win for both companies, Kelly CEO Peter Quigley said.
“Kelly will focus our efforts in Brazil on one of our specialties, which is our MSP product offered by KellyOCG, and GI Group simultaneously strengthens its commitment to Brazil by purchasing Kelly’s well-established staffing operations in the country,” Quigley said.