Netherlands – Covebo Group takes over employment agency Eurojob

October 25, 2019

The Dutch group Covebo, which is part of House of HR, has announced the acquisition of Eurojob, a Dutch employment agency.

Financial details of the transaction were not disclosed.

According to Covebo, the acquisition strengthens its leading position in the temporary employment market for migrant workers in the logistics and retail industry.

Eurojob, founded in 2000 and based in the Dutch town of Hoofddorp, will retain its brand and identity after the acquisition. The company specializes in temporary work in the distribution, logistics, assembly, metallurgy and agri-food sectors.

The group said it will be “significantly strengthened” with the takeover of Covebo Group in the areas of digitization and recruitment.

“Eurojob and Covebo expect this stage to be an even better employer for their temporary workers, as both parties are now even faster and better able to deploy the expertise at scale,” the companies said in a statement.

Ronald van Adrichem will remain CEO of Eurojob.

Van Adrichem commented: “We are looking forward to this next step. The concept of House of HR really appeals to us in which we can maintain our independence and at the same time exploit the advantages of a group. This way we get a much bigger impact. “

Covebo Group employs around 8,000 temporary workers every day in production, logistics, construction and engineering. A third of them are Dutch, the other temporary workers are recruited from other EU countries. Meanwhile, Eurojob specializes in sending migrant workers from the EU and employs around 1,200 temporary workers every day.

Eurojob’s expected revenue this year is €44 million, Covebo now expects the acquisition to result in combined revenue of approximately €350 million.

Covebo Group CEO Henk Buitink said: “Eurojob is also strengthening the Covebo Group’s position in the large client market, often with in-house services. This makes our group even stronger.

House of HR, the Belgian recruitment agency, is the 7and largest recruitment company in the Netherlands, according to SIA research.