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Press Release

Fieldfisher advises Glory Global Solutions on $223 million Acrelec investment

25/02/2020

Locations

France, United States

The firm assisted the 100-year-old Japanese industrial leader in cash management technologies on a strategic partnership to drive further innovation with the French developer of interactive kiosk solutions for major brands including McDonald’s, Burger King, KFC, Walmart and Carrefour. European law firm Fieldfisher has advised Glory Global Solutions (International) Ltd, a wholly-owned subsidiary of Tokyo Stock Exchange-listed GLORY Ltd, on a deal that will see Glory make a significant investment in France's Acrelec Group SAS, a leader in responsive self-service solutions for the Quick Service Restaurant and retail industries.
 
Headquartered in Saint-Thibault-des-Vignes, east of Paris, with operations in a further 14 countries, Acrelec focuses on developing people-centred experiences through self-service kiosks, digital signage, mobile ordering and collection solutions. 
 
With over 40,000 installations across more than 70 countries, Acrelec counts many of the world’s best-known restaurants and retail brands, including McDonald’s, Burger King, KFC, Walmart, Carrefour and Auchan, among its customers.
 
Glory, a 100-year-old industrial leader in cash management, currently provides the French company with cash automation technologies and process engineering services that handle cash flow through Acrelec’s kiosks.
 
The company will invest around $223 million in Acrelec to drive forward the deployment of Glory's innovative next generation ‘’smart-store’’ solutions.
 
Commenting on the deal, Tim Bird, corporate partner at Fieldfisher who led the team advising Glory Global Solutions, said:
 
"As a law firm with leading expertise in payment technologies, we were delighted to have the opportunity to assist Glory with this deal.
 
"Automation and AI-enabled processes are increasingly core to the success of modern companies and with more innovators looking to collaborate on commercial ventures, there is a growing need for specialised legal guidance in these areas.
 
"We would like to congratulate Glory Global Solutions and Acrelec on this exciting agreement and look forward to assisting Glory on the next phase of the deal."
 
Akihiro Harada, Chief Executive Officer at Glory Global Solutions, said:
 
"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 capitalise on this trend.”
 
Motozumi Miwa, President of GLORY Ltd, said: 
 
Acrelec’s success in self-service kiosks, click and collect solutions, and drive-through service optimization, together with their expertise in IoT and artificial intelligence, are directly aligned with Glory’s diversification and growth strategy.”
 
Glory’s investment in Acrelec is subject to review by Acrelec’s employee representatives, and applicable competition authorities.
 
A copy of Glory's announcement of the deal can be accessed here.
 
 
About Fieldfisher
 
Fieldfisher is a European law firm with market leading practices in many of the world's most dynamic sectors. We are an exciting, forward-thinking organisation with a particular focus on energy & natural resources, technology, finance & financial services, life sciences and media.
 
Our widely-recognised and respected tech team has been providing clients with unrivalled counsel for over two decades. The team's position at the top of the market, and the high-profile mandates we have learned from, gives clients the reassurance they need when instructing lawyers.
 
Our network has more than 1,550 people working across 25 offices providing highly commercial advice based on an in-depth understanding of our clients' needs.
 
We operate across our offices in Amsterdam, Barcelona, Beijing, Belfast, Birmingham, Bologna, Brussels, Dublin, Düsseldorf, Frankfurt, Guangzhou, Hamburg, London, Luxembourg, Madrid, Manchester, Milan, Munich, Paris, Rome, Shanghai, Turin, Venice and Silicon Valley.

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