Edenred

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Edenred SA

Type	Public limited company
Traded as	Euronext: EDEN CAC Next 20 Component
Industry	Prepaid corporate services
Founded	June 29, 2010 (2010-06-29)[note 1]
Headquarters	Malakoff , France[1]
Area served	Worldwide
Key people	Bertrand Dumazy (Chairman and CEO)
Products	Ticket Restaurant®
Revenue	€1.339 billion (2017)
Number of employees	Over 8,000 employees as of February 20, 2018
Website	Edenred.com

Edenred, formerly known as Accor Services, is a French company that specialises in prepaid corporate services. Edenred is the inventor of Ticket Restaurant, created in 1962. The company provides prepaid corporate services including employee benefits, meal vouchers, loyalty programs, fleet and mobility and corporate payment. 44 million employees use Edenred services worldwide.^[2]

History[]

Inspired by the original Luncheon Voucher, a concept launched in the United Kingdom in 1954, Jacques Borel created Ticket Restaurant on the French market in 1962. A French government decree, passed in 1967, officially recognized the meal voucher as an employee benefit. The concept was launched outside France starting in 1976. The Ticket Restaurant entity, which had been a subsidiary of the Accor Group since 1983, became Accor Services in 1998, and other offerings from the company included Ticket Alimentación and Ticket Car in Latin America.

Following the split of Accor's hotel and prepaid services businesses, Accor Services became Edenred in June 2010.^[3] The group was listed on NYSE Euronext Paris on July 2, 2010. Jacques Stern was appointed chairman and chief executive officer.

The group later shifted focus to digital products and launched the Ticket Restaurant card in France in April 2014. As of 2015, 78% of the group's business volume around the world was generated from digital products.^[4][5]

Edenred also launched the Ticket Plus Card in Germany (staple goods: food, fuel, meals), Ticket Cultura in Brazil (cultural goods and services),^[6], and Fides Cloud Loyalty Software in India, managed by its subsidiary Accentiv India Pvt. Ltd.^[7]

Edenred acquired a 34% stake in UTA in Germany and established a major partnership in Brazil with Daimler^[8] in 2015.

Bertrand Dumazy became Chairman and Chief Executive Officer of Edenred on October 26, 2015.^[9]

On May 31, 2016, Edenred acquired Embratec's operations in Brazil.^[10] In January 2017, Edenred takes over UTA majority, one of the leading providers of fuel and service cards in Europe.^[11]

Ownership[]

According to the company website: 94.6% institutional investors, 4.8% individual shareholders, 0.6% own shares.^[12]

Expansion[]

Edenred has subsidiaries in 45^[13] countries.

Edenred operates in 45 countries and has over 8,000 employees. The group has moved into new countries since 2010: Finland in 2011, Japan in 2012, Russia, the United Arab Emirates in 2014 and Moldova in 2018.^[14]

Challenge to Public Procurement in the UK[]

In 2014, Edenred initiated a high court case in which it argued that the UK Treasury was in breach of EU public procurement law in varying a contract with Atos IT Services Ltd to take account of changes in tax-free childcare law, without initiating a new procurement process. Their case was taken to the Supreme Court in 2015 but Edenred were unsuccessful, the court ruling that the modifications made to Atos' contract were not "substantial".^[15]

References[]

Footnotes[]

Citations[]

External links[]

Media related to Edenred at Wikimedia Commons