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Acrelec group announce $223m investment

Acrelec, the global leader in customer experience technology for “quick service” restaurants and retailers, has announced plans for a $223 million investment by Glory Global Solutions (International) Ltd, a wholly-owned subsidiary of GLORY Ltd.

Headquartered in Saint-Thibault-des-Vignes with 40,000 installations across more than 70 countries, Acrelec focuses on developing kiosks, drive-through and self-checkouts for many of the world’s best-known restaurants and retail brands including McDonald’s, Burger King, KFC, Walmart, Carrefour and Auchan.

The company offers a complete ecosystem which provides customer journey personalisation, including the use of AI.

Glory works in the financial, retail, cash center and gaming industries and provides Acrelec, as well as a wide range of other customers, with cash automation technologies and process engineering services that optimize the handling, movement and management of cash.

Jacques Mangeot, Co-CEO of Acrelec commented: “Today’s investment by Glory will power the next exciting step for our company and represents a great opportunity for our customers and our team.

“After many years of effort to answer in-store digital needs, we are ready to launch the next step in our innovative next generation ‘’smart-store’’ solutions.”

Jalel Souissi, Co-CEO of Acrelec said: “This investment is a strong endorsement of our business direction. We know that partnering with the highly respected Glory Group will be reassuring for our extraordinary, world-leading customers, who can be certain Acrelec will continue to serve them with passion, devotion, and continuous innovation.”

Commenting about the investment, Akihiro Harada, Chief Executive Officer at Glory Global Solutions said” “We have been working with the Acrelec team for a number of years and we recognised that there was a strong fit in our cultures and ambitions as well as complementary solutions that we bring to market.

“We see an increasing trend where consumers want to take more control over their in-store shopping and dining experiences.  Acrelec offers consumers this control, through personally and contextually responsive self-service solutions. Our investment in Acrelec will help accelerate their pace of innovation to capitalize on this trend.”

Acrelec will continue to serve its customers with its existing management team and employees, as well as its brands, research centres and factories around the world. This investment is subject to review by Acrelec’s employee representatives, and applicable competition authorities.