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Sodexo: partnership between Pluxee and Santander in Brazil

( - Sodexo announces that Pluxee, its benefits and rewards services division, has entered into a strategic partnership with Santander Brazil to significantly strengthen its distribution network in the Brazilian market.

The partnership includes a 25-year exclusive distribution agreement for Pluxee employee benefits solutions within Santander's network of branches and bankers nationwide, and the integration of Santander's employee benefits business, Ben.

Santander will own 20% of Pluxee Brazil. The transaction is subject to approval by CADE and the Central Bank of Brazil. For Pluxee, the transaction will be accretive from year 1 in terms of growth, EBITDA and margin.

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