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March 25, 2014

Edenred Brazil acquires the client portfolio of CBA Bonus

Edenred strengthens its position in Brazil by acquiring the client portfolio of the company Bônus, a player on the food and meal voucher market.

In 2012, Edenred acquired Comprocard, an issuer of food vouchers in Brazil. In January 2014, it continued its expansion on the employee benefits market by acquiring the client portfolio of the company Bônus, another player on the same market.

A subsidiary of the Brazilian family-owned group CBA, Bônus offers employee benefits solutions, primarily in digital format, with two flagship solutions: a food voucher, which accounts for 75% of the volume issued by the company, and a meal voucher. This acquisition enables Edenred to strengthen its geographic position in the region of São Paulo, where Bônus is highly active, and more intensely penetrate the sector of small and medium enterprises, in which Bônus conducts most of its activities.

Signed in November 2013, the transaction became effective in January 2014, with the migration of its client portfolio, made up of nearly 3000 client companies and 70,000 beneficiaries.
This acquisition has many strategic benefits for the Group's Brazilian subsidiary, as emphasized by Gilles Coccoli, Managing Director for Edenred Brazil: "We are thrilled about this operation that will allow us to build our presence in the São Paulo region and strengthen our position in the sector of small and medium enterprises."

The Group's leading country in terms of issue volume, Brazil has an employee benefits market with fine growth prospects, on account of its low penetration rate and a potential market of nearly 50 million people.

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