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Press release

Development 20 October 2014

Edenred acquires a 34% stake in UTA, a key player in the European fuel card market

Representing an investment of around €150 million, the acquisition gives Edenred a unique opportunity to speed up its growth in the expense management market.

Backed by more than 50 years of experience, UTA provides expense management solutions for heavy vehicle fleets to more than 60,000 European clients, of which nearly 70% are based in Germany.

Present in 40 European countries, UTA offers a card that can be used in a network of more than 34,000 affiliated service stations and a settlement solution of tolls. It also offers value-added services, including: tracking and reporting of travel information; VAT recovery services; and on-road assistance and maintenance services for the500,000 truck drivers who have a UTA card. 

One of UTA’s flagship solutions is the MercedesServiceCard developed jointly with automaker Daimler, which holds a 15% interest in the fuel card company. Distributed by UTA to Mercedes-Benz customers, the co-branded card gives holders access to UTA’s services and to Mercedes-Benz service centers. 

In 2013, UTA generated €3.1 billion in issue volume and €64 million in revenue.

A strategic acquisition that creates new growth opportunities for Edenred

With around €300 billion  spent each year on fuel for business travel, the European B2B fuel card market offers significant growth potential. 
The alliance between UTA and Edenred will help drive faster sales growth of UTA's heavy vehicle fleet solutions. It will also enable the launch of a new solution for the light vehicle segment, which will gradually be rolled out by Edenred to its 300,000 clients in Europe.
The acquisition of BP’s 34% stake in UTA for around €150 million is accompanied by an option to purchase an additional 17% interest from UTA’s two founding families, exercisable between 2017 and 2019.

We are delighted to join forces with UTA, which has extensive expertise in the European fuel card market and a unique network of service stations and tolls," said Jacques Stern, Edenred’s Chairman and Chief Executive Officer. “This transaction represents an exceptional opportunity for Edenred. It will enable us to become a global player in expense management and to make this the second pillar of our offering.”


Edenred is a leading digital platform for services and payments and the everyday companion for people at work, connecting more than 52 million users and 2 million partner merchants in 45 countries via close to 1 million corporate clients.

Edenred offers specific-purpose payment solutions for food (such as meal benefits), incentives (such as gift cards, employee engagement platforms), mobility (such as multi-energy, maintenance, toll, parking and commuter solutions) and corporate payments (such as virtual cards). 

True to the Group’s purpose, “Enrich connections. For good.”, these solutions enhance users’ well-being and purchasing power. They improve companies’ attractiveness and efficiency, and vitalize the employment market and the local economy. They also foster access to healthier food, more environmentally friendly products and softer mobility.

Edenred’s 10,000 employees are committed to making the world of work a connected ecosystem that is safer, more efficient and more responsible every day. 
In 2022, thanks to its global technology assets, the Group managed some €38 billion in business volume, primarily carried out via mobile applications, online platforms and cards.

Edenred is listed on the Euronext Paris stock exchange and included in the following indices: CAC 40 ESG, CAC Next 20, CAC Large 60, Euronext 100, FTSE4Good and MSCI Europe.

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