Edenred increases its stake in ProwebCE

Edenred has increased its stake in ProwebCE, the French leader in solutions for works councils. The transaction will enable Edenred to broaden its range of services in France's employee benefits market.

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ProwebCE offers a comprehensive range of solutions for works councils, which includes management and accounting software and an e-commerce platform that enables employees to use the funds allocated to them to purchase culture and leisure-related goods and services. With a portfolio of more than 7,000 clients, representing 5 million employee beneficiaries, ProwebCE generated €8 million in EBITDA in 2014.

Edenred and the ProwebCE management team have joined forces to acquire 100% of the capital of ProwebCE. Through this transaction, the Group is expanding its employee benefits offering and intends to create new growth opportunities thanks to the sales synergies between the two companies.

"Works councils occupy a key position on the French employee benefits market and ProwebCE has become a recognized expert and leader in this field, making it the ideal partner to help us develop this high-potential business," said Jacques Stern, Chairman and Chief Executive Officer of Edenred.

Download the press release (PDF, 209.5 KB)

About

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.