Atlas Acquisition to buy Koosharem for $840 million

Dabur's promoter family member Gaurav Burman-led Atlas Acquisition today said it would acquire US-based staffing and employment services company Koosharem Corporation for $840 million (around Rs 3,900 crore) and merge with itself. Atlas Acquisition is a special purpose acquisition company floated by Burman for acquiring operating businesses. The merged entity would be called Select Staffing, the company said in a statement.

“We believe that Atlas’ cash coupled with Select Staffing’s business gives Atlas shareholders an ideal platform for future value creation,”Atlas Acquisition Holdings Corp President Gaurav Burman said.

The company said that after the completion of the merger, Select Staffing's management team will remain in place with D Stephen Sorensen serving as Chairman and CEO, Paul J Sorensen as President, and Jeff Mitchell as CFO.