New Delhi: Human resource services firm Manpower Inc. on Tuesday said it has acquired 26% stake in its Indian subsidiary Manpower Services India for an undisclosed amount, taking its total shareholding to 100%.
Manpower Inc. bought the 26% stake from ABC Consultants and with this the global HR giant now owns the Indian arm completely, thereby making Manpower India its fully-owned subsidiary, a company statement said.
“This acquisition will allow us to expand, manage and control our operations better. In coming times, we will be expanding our resources and infrastructure in India to meet the growing demand for Indian talent, Manpower Services India managing director Naresh Malhan said.
The acquisition would boost Manpower’s growth plan and help them reinforce their existing capabilities in permanent hiring, managed business solutions, cross border, contract staffing and complex workforce management solutions.
“... this move is a proof of our serious intent to continue doing business in India. We can see the strong internal growth dynamics and the demographic advantage which India carries,“ Manpower President (Asia Pacific) Darryl Green said.
Presently, Manpower India has 25 offices in 16 cities across the country, employing over 500 consultants and is the recruitment partner for over 400 top names.