Edenred, formerly known as Accor Services, has acquired Euroticket, Romania's fourth-largest provider of meal and gift vouchers.  The acquisition price was of EUR 5.5 million.  Edenred now serves close to 40 percent of the market, according to its own data.

Edenred operates in 40 countries and has 6,000 employees around the world. It offers employee and public benefits related to meals and food such as Ticket Restaurant, Ticket Alimentation, Childcare Vouchers, as well as performance solutions in the areas of expense management, like Ticket Car, Ticket Compliments.

In 2009, Edenred generated total issue volume of EUR 12.4 billion, of which more than 50 percent in emerging markets. Accor Services re-branded as Edenred in June last year. The company started its activity in Romania in 1998, when Romania has issued the first law on meal vouchers.

Euroticket was founded in 2005. In 2010, the company started to expand in Hungary and France. The company is owned by Romanian and Israeli shareholders. With more than 3,000 customers and a nearly 5 percent market share, Euroticket reported an issue volume of EUR 53 million in 2009, according to Edenred.

editor@romania-insider.com