Press release October 16, 2017
EDENRED CONSOLIDATES ITS LEADERSHIP POSITION IN CENTRAL EUROPE
The Group announces the acquisition of Vasa Slovensko, Slovakia's number three player in meal vouchers.
The acquisition of Vasa Slovensko makes Edenred the market leader in meal vouchers in Slovakia, where it has been operating since 1994. Founded in 1996 and currently ranked third among local players, Vasa Slovensko generated a transaction volume of more than €120 million from 16,000 public- and private-sector companies in 2016, bringing additional revenue to nearly 2,000 partner merchants. With Edenred Slovakia and Vasa Slovensko offering a complementary fit in terms of geographical footprint and client segments, the acquisition will enable the Group to expand and diversify its existing base in a buoyant market.
As Vasa Slovensko currently offers only paper vouchers, the transaction provides an opportunity for corporate clients, employee users and partner merchants to benefit from Edenred's digital expertise, as demonstrated by the more than 70% of the Group's global transactions now made using digitized solutions.
"We are confident that the combination of our business with the world leader in employee benefits solutions will give our clients and their employees access to a wider range of services," said Libor Danek, co-founder of Vasa Slovensko.
Position as world leader strengthened
The acquisition is part of the Fast Forward strategic plan, which notably aims to increase the Group's penetration rate in its Employee Benefits markets.
"The acquisition will allow Edenred, which already operates in Bulgaria, Hungary, Poland, Romania, Slovakia and the Czech Republic, to consolidate its leadership position in Central Europe, a region that is enjoying an economic boom. Our teams are successfully implementing an ambitious digital transformation in the region geared toward meeting the expectations of local businesses, their employees and partner merchants," said Arnaud Erulin, Chief Operating Officer, Northern Europe, Central Europe, France and Belgium.
The transaction will be accretive to earnings from 2018.
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Edenred is the world leader in transactional solutions for companies, employees and merchants. Whether delivered via card, mobile app, online platform or paper voucher, all of these solutions mean increased purchasing power for employees, optimized expense management for companies and additional business for affiliated merchants. Edenred's offer is built around three business lines:
- Employee benefits (Ticket Restaurant ® , Ticket Alimentación, Ticket Plus, Nutrisavings, etc.)
- Fleet and mobility solutions (Ticket Log, Ticket Car, UTA, Ticket Empresarial, etc.)
- Complementary solutions including corporate payments (Edenred Corporate Payment), incentives and rewards (Ticket Compliments, Ticket Kadéos) and public social programs.
The Group brings together a unique network of 43 million employees, 750,000 companies and public institutions, and 1.4 million affiliated merchants. Listed on the Euronext Paris stock exchange and part of the CAC Next 20 index, Edenred operates in 42 countries, with close to 8,000 employees. In 2016, the Group managed almost €20 billion in transactions, of which 70% were carried out via card, mobile device or the web.
The logos and other trademarks mentioned and featured in this press release are registered trademarks of Edenred S.A., its subsidiaries or third parties. They may not be used for commercial purposes without prior written consent from their owners.
Follow Edenred on Twitter: www.twitter.com/Edenred
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CONTACTS
| Media Relations Anne-Sophie Sibout +33 (0)1 74 31 86 11 anne-sophie.sibout@edenred.com Anne-Sophie Sergent +33 (0)1 74 31 86 27 anne-sophie.sergent@edenred.com | Investor Relations Solène Zammito +33 (0)1 74 31 88 68 solene.zammito@edenred.com Loïc Da Silva +33 (0)1 74 31 87 09 loic.dasilva@edenred.com |
