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    SW   FR0000121220

SODEXO

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SodexoMagic and Goodr Partner to Combat Food Insecurity and Waste

11/18/2021 | 10:27am EST

Beverly Hills, CA, Nov. 18, 2021 (GLOBE NEWSWIRE) -- According to the USDA, 11.3 million U.S. households were food insecure in 2019 and 2020. The USDA also states that 30-40 percent of America’s food supply is wasted. Today, SodexoMagic announced a partnership with Goodr, a minority-owned, woman-led hunger relief and food waste management company. This partnership creates easy and ongoing access to fresh food at no cost and as well as a way forward for diverting edible food waste from SodexoMagic’s extensive nationwide food service operations.  This helps get food in the mouths of those that need it most.

In addition to surplus food recovery, Goodr offers a variety of hunger relief solutions which include pop-up grocery markets, student snackpacks, grocery and meal delivery and the company’s newest offering, the Goodr grocery store. The Goodr grocery store converts unused space in an existing facility into an on-site grocery store that offers fresh produce, meat, grab-n-go items, and shelf-stable goods at no cost for individuals and families. SodexoMagic plans to a combination of these hunger relief solutions across college campuses by year-end and expand to additional campuses, corporate accounts, healthcare facilities, and more next year.

“The pandemic has caused a lot of undue stress,” said Selena Cuffe, president of SodexoMagic, a joint venture between food services and facilities management leader Sodexo and majority-owner Earvin “Magic” Johnson, NBA Hall of Famer and CEO of Magic Johnson Enterprises, LLC. “We hope to lessen the stress and anxiety on those in need.”

“We are proud to partner with SodexoMagic on such an important initiative,” said Goodr Founder and CEO, Jasmine Crowe. “This partnership will allow us to provide free meals, groceries and snacks to even more people experiencing food insecurity across the country and explore opportunities to work together on surplus food recovery and organics recycling at SodexoMagic locations across the country.”

The partnership with Goodr is an example of SodexoMagic’s commitment to support diversity and inclusion through purchases of goods and services from minority and women-owned businesses. For more information, visit SodexoMagic.com.

About Goodr

Goodr is a food waste management and hunger relief company that leverages technology and its nationwide logistics network to combat hunger and reduce food waste. Goodr's food waste services operate nationwide and include surplus food recovery, organics recycling, and holistic waste management. Goodr provides hunger relief solutions via popup grocery stores, Goodr grocery stores, grocery delivery and student snackpacks to support food insecure communities around the US. Goodr is built on the principle that food insecurity is not an issue of scarcity; it's a matter of logistics. For more information on Goodr, visit Goodr.co.

About SodexoMagic

SodexoMagic was formed in 2006 through a joint venture between Magic Food Provisions (MFP), which is owned by NBA all-star Earvin “Magic” Johnson, and Sodexo Inc. to provide food and facilities management services to businesses, hospitals, schools, and universities. SodexoMagic was founded with the purpose of empowering the communities it serves, creating opportunity by hiring locally and purchasing goods and services from minority and women-owned businesses. With a 51 percent ownership interest by MFP, SodexoMagic has been certified as a minority-owned and managed company by the Minority Supplier Development Council and the Southern California Minority Business Development Council, Inc.  The joint venture employs over 6,500 people at approximately 1,500 locations across the U.S.

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Financials
Sales 2022 20 558 M 23 313 M 23 313 M
Net income 2022 600 M 681 M 681 M
Net Debt 2022 1 876 M 2 128 M 2 128 M
P/E ratio 2022 20,8x
Yield 2022 2,66%
Capitalization 12 320 M 13 973 M 13 971 M
EV / Sales 2022 0,69x
EV / Sales 2023 0,65x
Nbr of Employees 356 662
Free-Float -
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Technical analysis trends SODEXO
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Mean consensus OUTPERFORM
Number of Analysts 23
Last Close Price 84,22 €
Average target price 89,96 €
Spread / Average Target 6,81%
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Managers and Directors
Sophie Clamens Chairman & Chief Executive Officer
Marc Rolland Finance Director-Africa, Europe & Eurasia Regions
Franšoise Brougher Independent Director
Emmanuel Andre Marie Babeau Independent Director
CÚcile Tandeau de Marsac Independent Director
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