Pluxee (the “Group”), a global player in Employee Benefits and Engagement, announces that it has signed an agreement to acquire 100% of Benefício Fácil, a provider of mobility solutions for public transport in Brazil, a growing and underpenetrated market in which mobility benefits for employees are mandatory. The agreement is subject to approval from the Central Bank of Brazil (BACEN).
With this new acquisition, Pluxee continues to deliver on its strategic growth plan, expanding in the mobility sector and enhancing its comprehensive suite of employee benefits in a key market.
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This acquisition follows a long-standing partnership between both companies. Together, Pluxee and Benefício Fácil will further leverage the existing transport operators’ network and expand the penetration of mobility benefits in Brazil, especially in the small and medium enterprises segment.
Benefício Fácil is a top-rated platform that provides essential transport services to Brazilian employees, addressing an available market valued at over €20 billion. Founded in São Paulo in 2004 as a technology company dedicated to providing commuter benefits, it integrates transportation and third-party food benefits into a comprehensive solution for Human resources managers.
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With over 7.1 million consumers, Pluxee is one of the leading providers of Employee Benefits and Engagement in Brazil. The Group expects to achieve substantial growth synergies from the integration of Benefício Fácil, identifying a strong opportunity to drive additional revenues through cross selling to its existing client base. The transaction will be entirely financed through existing financial resources, ensuring minimal effect on leverage.
Aurélien Sonet, CEO of Pluxee, commented:
“Pluxee has strong development ambitions in the Brazilian Employee Benefits market. The acquisition of Benefício Fácil will allow us to seamlessly integrate the mandatory mobility benefit into our comprehensive suite of solutions. By addressing the growing demand for innovative transport solutions, this operation will contribute to foster client retention and increase cross-selling opportunities. We expect the transaction to be accretive on the EBITDA margin from the first year. After many years of successful collaboration, we look forward to officially welcoming Benefício Fácil to Pluxee.”
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Source – GlobeNewswire
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