NEW YORK; Oct. 2, 2007 — Accenture (NYSE: ACN) has agreed to acquire H.B. Maynard and Co., Inc. (Maynard), a privately held consulting, software and training firm that provides workforce-productivity-management solutions to help companies improve their performance and market competitiveness.
Maynard serves Fortune 500 companies as well as small and medium-sized businesses in the retail, manufacturing, distribution, utility and service sectors.
"This acquisition is a strategic fit for both Accenture and Maynard and reflects our commitment to further enhance our management consulting practice, particularly around retail stores and distribution, to help our clients become high-performance businesses," said Janet Hoffman, managing director of Accenture’s Retail practice in North America. "The combination of Accenture’s experience with the processes and tools Maynard has developed will help clients achieve operational and workforce efficiency faster and more effectively than ever before."
Ken Smith, president of Maynard, said, "This is a great fit for our clients and the company. Joining forces with Accenture helps us extend and deliver our tools and capabilities to a broader market, enabling us to offer clients a full complement of consulting services, industry knowledge and expertise. Our people have been the key element of Maynard’s growth throughout our history, and they will continue to help determine our success moving forward. This acquisition provides significant career growth opportunities for our staff."
The acquisition is subject to regulatory and other customary approvals and is expected to close within 30 days. Terms of the agreement were not disclosed.
Accenture is a global management consulting, technology services and outsourcing company. Committed to delivering innovation, Accenture collaborates with its clients to help them become high-performance businesses and governments. With deep industry and business process expertise, broad global resources and a proven track record, Accenture can mobilize the right people, skills and technologies to help clients improve their performance. With approximately 170,000 people in 49 countries, the company generated net revenues of US$19.70 billion for the fiscal year ended Aug. 31, 2007. Its home page is www.accenture.com .
Maynard helps leading retailers and manufacturers improve workforce performance by providing tools, training and expertise in labor management, best methods, workplace organization, labor standards and staffing. Results focus on reducing labor costs while meeting customer service objectives. Headquartered in Pittsburgh, Pennsylvania, Maynard has been helping leading manufacturers, grocery retailers, and apparel retailers improve their productivity, quality, and culture for more than 72 years. The company developed The Maynard Workforce Performance Model™, a multi-disciplined strategy, to assist companies including American Eagle Outfitters, Nike, Old Navy, Publix, Limited Brands, Gap, Giant Eagle, Rite Aid, Wegman’s, Toys R Us, CVS, SuperValu, and T J Maxx with improving the productivity, quality, and culture of their organizations. Raptor Partners LLC is acting as financial advisor to H. B. Maynard and Company, Inc. in connection with this transaction.