July 5, 2012
Edenred today announced that it had entered Japan - its 39
country - with the acquisition of Barclay Vouchers, the only company in the local meal voucher market.
At the same time, the Group has strengthened its positions in
through the acquisition of Comprocard, a Brazilian food voucher issuer.
With the two transactions, Edenred is pursuing its geographic expansion with the goal of opening six to eight new countries by 2016 and is reaffirming its targeted acquisitions strategy.
Japan: Edenred's 39
With the acquisition of
, Edenred has entered its
, following the opening in
. The transaction has enabled the Group to establish a foothold in
a country that enjoys significant growth potential,
with 63 million employees and a penetration rate that is still very low, estimated at less than 1%.
more than 600 clients, Barclay Vouchers, the only player
in the Japanese market for
, generated 2011 issue volume of approximately
. The acquisition gives Edenred direct access to a
"With this transaction, Edenred has reaffirmed its commitment to strengthening its presence in the
region, which is a strategic growth territory, especially in terms of geographic development," said
, Chief Operating Officer, Edenred Asia-Pacific. "In view of this challenge,
, previously Chief Financial Officer, Edenred Brazil, has been chosen to head our operations in
. His mission is to develop our solutions in a local market that still has a very low penetration rate."
Edenred strengthens its positions in
The acquisition of
enables Edenred to consolidate its
in prepaid service vouchers in a strategic country with a fast-growing economy. With approximately
and annual issue volume of around
market leader in the oil-producing state of Espirito Santo.
, which is Edenred's largest market, still has strong growth potential for the Group," said Oswaldo Melantonio Filho, Chief Operating Officer, Edenred Brazil
"With double-digit growth in first-quarter issue volume, business is very dynamic in all our families of solutions. The purpose of the acquisition is to consolidate our leadership position and increase our presence in a region where the economy is booming."
were based on an enterprise value of €28 million for Barclay Vouchers and €24 million for Comprocard.
, which invented the Ticket Restaurant
meal voucher and is the world leader in prepaid corporate services, designs and delivers solutions that make employees' lives easier and improve the efficiency of organizations.
Edenred solutions ensure that funds allocated by companies are used as intended.
These solutions help to manage:
The Group also supports public institutions in managing their
Listed on the NYSE Euronext Paris stock exchange, Edenred operates in 39 countries, with some 6,000 employees, nearly 580,000 companies and public sector clients, 1.3 million affiliated merchants and 36.2
In 2011, total issue volume amounted to €15.2
billion, of which 58% was generated in emerging markets.
- Employee benefits (Ticket Restaurant ® , Ticket Alimentación, Ticket CESU, Childcare Vouchers, etc.).
- Expense management process (Ticket Car, Ticket Clean Way, Ticket Frete, etc.)
- Incentive and rewards programs (Ticket Compliments, Ticket Kadéos, etc.).
and all other tradenames of Edenred products and services are registered trademarks of Edenred SA.
1. Launch of Ticket Mind&Body, a new employee benefits solution, in late 2011 and Ticket Restaurant® in