EDENRED (EPA:EDEN) - Edenred: Edenred strengthens its position in the Brazilian market with the acquisition of employee benefits operations from Cooper Card

Transparency directive : regulatory news

13/05/2020 08:45

Press release
May 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 EUR31
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 08
marie-laurence.bouchon@edenred.com

Media Relations

Matthieu Santalucia
+33 (0)1 86 67 22 63
matthieu.santalucia@edenred.com

Investor Relations

Solène Zammito
+33 (0)1 86 67 23 13
solene.zammito@edenred.com

Loïc Da Silva
+33 (0)1 86 67 20 67
loic.dasilva@edenred.com

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07/05/2024 17:45

EDENRED (EPA:EDEN) - Edenred: Edenred strengthens its position in the Brazilian market with the acquisition of employee benefits operations from Cooper Card

Transparency directive : regulatory news

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