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According to Reuters, the Japanese HR firm Recruit Co announced today the acquisition of all shares in Advantage Resourcing America (ARA) in the United States and Advantage Resourcing Europe in the Netherlands (ARE) for 410 million US Dollars from Cerberus Capital Management, in order to expand overseas.
Recruit purchased 100% stakes in both ARA and the Amsterdam-based Advantage Resourcing Europe BV (ARE) from Cerberus Capital Management LP. ARA operates nearly 240 offices in the US while ARE has 22 offices spread across Europe, in addition to offices in Australia, Hong Kong, Singapore and Dubai, the Japanese company confirmed. With annual global revenues of 1.3 million US Dollars up to June 2011, Advantage manages 30,000 temporary staff worldwide, and directly employs over 2,000 people. The company is ranked among the top 20 in Staffing Industry Analysts list of largest global staffing firms. The Advantage xPO brand provides specialized contingent and permanent workforce solutions.
Recruit is the largest staffing company in Japan and has some overseas operations already including US subsidiaries CSI and, more recently, Staffmark which it acquired in October 2011. In its media statement, the Company said, “By combining our staffing services knowhow in Japan and the US with the Global operational expertise and client base of ARA and ARE, we aim to provide global services spanning 5 continents including North America, South America, Europe, Asia and Australia”.
The combined business would have global revenues of 6.8 billion US Dollars which would make it the 4th largest staffing company in the world overtaking US firms, Allegis and Kelly.