Edenred strengthens its position in the Brazilian market with the acquisition of employee benefits operations from Cooper Car...
13 Maio 2020 - 03:45AM
Edenred strengthens its position in the Brazilian market with the
acquisition of employee benefits operations from Cooper Card
Press releaseMay 13, 2020
Edenred strengthens its position in the
Brazilian market with the acquisition of employee benefits
operations from Cooper Card
Edenred has announced the acquisition of
Cooper Card’s client portfolio in Brazil. Founded in 2003,
Cooper Card markets food-related employee benefits in the
Brazilian state of Paraná. The portfolio represents strong
geographic synergies with Edenred’s existing client portfolio and
strengthens the Group’s position in the employee benefits market in
Brazil.
With a presence in Brazil for more than 40
years, Edenred has been actively helping Brazilian companies
implement the Workers’ Food Program through its Employee Benefits
offering. Initiated by Brazil’s government in 1976, the program
promotes healthy eating in order to enhance employee well-being and
improve productivity.
With the acquisition of Cooper Card’s client
portfolio in Brazil, Edenred is consolidating its integration into
the economic fabric of the state of Paraná. With 11 million
citizens, it is one of the country’s most populous and dynamic
states and represents a major employment pool. In 2019, Cooper
Card’s employee benefits business generated revenue of
25 million Brazilian reais.
Edenred, a leading services and payments
platform for people at work, connects 7 million employees and
330,000 partner merchants via more than 130,000 corporate
clients in Brazil. Edenred Brazil has developed a portfolio of
fully digital solutions, covering Employee Benefits and Fleet &
Mobility Solutions. The 170,000 Cooper Card users will benefit from
the innovative approach developed by Edenred Brazil, notably in
terms of access to mobile payment services and meal delivery
platforms including Uber Eats and Rappi, services that are
already proposed to users of Edenred food-related solutions such as
Ticket Alimentação and Ticket Restaurante.
Gilles Coccoli, Edenred’s Chief
Operating Officer, Americas, said: “Every day, Edenred
makes it easier for several million employees in Brazil to access a
diverse food and mobility offering via innovative payment
solutions. This acquisition, in what is still an underpenetrated
market, will enable us to increase our presence among companies in
the state of Paraná, thereby helping to enhance their employees’
well-being.”
The transaction is subject to approval by the
Brazilian antitrust authority and the Central Bank of Brazil and
will have a positive impact on the Group’s net profit from year
one. The acquired client portfolio will be integrated into Ticket
Serviços, Edenred’s Brazilian Employee Benefits subsidiary.
▬▬
Edenred is a leading services
and payments platform and the everyday companion for people at
work, connecting 50 million employees and 2 million partner
merchants in 46 countries via more than 850,000 corporate
clients.
Edenred offers specific-purpose payment
solutions for food (meal vouchers), fleet and mobility (fuel cards,
commuter vouchers), incentives (gift vouchers, employee engagement
platforms) and corporate payments (virtual cards). These solutions
enhance employee well-being and purchasing power, improve
companies’ attractiveness and efficiency, and vitalize the
employment market and the local economy.
Edenred’s 10,000 employees are committed to
making the world of work a connected ecosystem that is safer, more
efficient and more user-friendly every day.
In 2019, thanks to its global technology assets,
the Group managed €31 billion in business volume, primarily carried
out via mobile applications, online platforms and cards.
Edenred is listed on the Euronext Paris stock
exchange and included in the following indices: CAC Next 20,
FTSE4Good, DJSI Europe and MSCI Europe.
For more information: www.edenred.com
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.
Edenred is celebrating its tenth anniversary in
2020.
▬▬
CONTACTS
Communications Department Marie-Laurence
Bouchon+33 (0)1 86 67 20 08marie-laurence.bouchon@edenred.com
Media Relations Matthieu
Santalucia+33 (0)1 86 67 22 63matthieu.santalucia@edenred.com |
Investor
Relations Solène Zammito+33 (0)1 86 67 23
13solene.zammito@edenred.com Loïc Da Silva+33 (0)1 86
67 20 67loic.dasilva@edenred.com
|
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