Italian staffing firm Gi Group Holding announced today it successfully completed its acquisition of the European Staffing business of Kelly (Nasdaq: KELYA, KELYB), making it the largest acquisition in Gi Group Holding’s history.

The acquisition was first announced in November 2023 for a cash consideration of up to €130 million. On December 2023, the European Commission approved the deal.

Gi Group said the transaction accelerates its growth strategy to become a leader in the global staffing and recruitment industry, as it expands its activities in eleven countries, such as France, Portugal and Switzerland, and additionally brings its services to Belgium, Luxembourg and Norway.

The acquisition will also enable Gi Group Holding to strengthen its offering in its life sciences, white collar temporary work and RPO capabilities, which will be integrated into its value proposition as the holding strategically grows its HR ecosystem to deliver comprehensive services and solutions.

“This is a very exciting day for as we close our 51st acquisition, our largest one to date, and a fundamental step in our growth trajectory to become a global leader in HR services,” said Gi Group Holding Founder & CEO Stefano Colli-Lanzi. “This equally goes hand in hand with our emphasis on ensuring a positive contribution to the labour market, and, as such we are grateful to have found in Kelly a complementary partner.”

“We’re looking forward to welcoming hundreds of new colleagues to our family who will undoubtedly give a valuable contribution to further our mission of disseminating and implementing Sustainable Work all around the globe,” Collo-Lanzi.

Gi Group ranks as the 19^th largest staffing firm in the world in terms of revenue, while Kelly Services ranks as the 12^th largest staffing firm globally.