Edenred has acquired two voucher providers, growing into Japan and expanding its position in Brazil.
The employee benefits provider has acquired Barclay Vouchers, a Japanese meal voucher provider, and Comprocard, a Brazilian food voucher provider.
Barclay Vouchers works with more than 600 employers. Laurent Pellet, chief operating officer for Edenred Asia-Pacific, said: “With this transaction, Edenred has reaffirmed its commitment to strengthening its presence in the Asia-Pacific region, which is a strategic growth territory, especially in terms of geographic development.”
Comprocard works with approximately 4,000 employers. Oswaldo Melantonio Filho, chief operating officer at Edenred Brazil, said: “Brazil, which is Edenred’s largest market, still has strong growth potential for the group.”
The two transactions were based on an enterprise value of €28†million for Barclay Vouchers and €24†million for Comprocard.
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