Edenred: Acquisition of Romania's Fourth-Largest Provider of Meal and Gift Vouchers

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Edenred

Jan 03, 2011, 12:53 ET

PARIS, January 3, 2011 /PRNewswire-FirstCall/ -- In line with its development strategy, Edenred today announced the acquisition of Euroticket, Romania's fourth-largest provider of meal and gift vouchers. With more than 3,000 customers and a nearly 5% market share, Euroticket reported an issue volume of EUR53 million in 2009.

This transaction is consistent with Edenred's targeted acquisitions strategy and enables to consolidate its leadership position in Romania, where it now serves close to 40% of the market.

The EUR5.5-million investment will be accretive to net earnings as of 2011.

Edenred, the world leader in prepaid service vouchers, provides solutions that enhance personal well-being and improve the performance of organizations. Operating in 40 countries, with 6,000 employees, nearly 500,000 private and public sector customers, 33 million users and 1.2 million affiliates, Edenred offers a wide range of products in two categories:

    - Employee and public benefits related to meals and food (Ticket
      Restaurant, Ticket Alimentation) or quality of life (Ticket CESU,
      Childcare Vouchers, etc.)

    - Performance solutions in the areas of expense management (Ticket Car,
      etc.), incentives and rewards (Ticket Compliments, Kadeos, etc.) and
      new prepaid electronic products

In 2009, Edenred generated total issue volume of EUR12.4 billion, of which more than 50% in emerging markets.

SOURCE Edenred

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