Edenred: acquires employee benefits operations in Brazil
(CercleFinance.com) - Edenred has announced the acquisition of Cooper Card's customer portfolio in Brazil, a deal whose financial terms were not specified.
Cooper Card markets employee benefits dedicated to the food industry in the State of Paraná.
"This portfolio creates a strong geographical complementarity with Edenred's existing customer portfolio and strengthens its position in the employee benefits market in Brazil," Edenred said.
The transaction remains subject to approvals from the Brazilian competition authority and the Brazilian Central Bank. It will be earnings accretive from the first year.
Copyright (c) 2020 CercleFinance.com. All rights reserved.