December 09, 2013
Edenred announces the acquisition of Nets Prepaid, leader in the benefits market in Finland
Edenred has acquired Nets Prepaid , the leader in Finland’s benefits market. The acquisition has given the Group an undisputable leadership position in the Finnish market, following on from its entry in 2011.
Nets Prepaid offers the Lounas meal benefit and recreational benefits for more than 10,000 clients and 120,000 beneficiaries. Issue volume amounted to more than €200 million in 2012.
The transaction, which is in line with the Group’s targeted acquisition strategy, has made Edenred the undisputed market leader, in a country with 2.5 million employees and a low penetration rate estimated at around 10%.
"After the launch of meal and recreational benefits in Finland in 2011, this acquisition represents an excellent opportunity to reinforce our presence in the country and foster cross-selling. By integrating an experienced team in the Finnish benefits sector, we will offer the highest level of services to our clients, affiliates and beneficiaries" said Arnaud Erulin, Chief Operating Officer for Edenred Central Europe and Scandinavia
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