Edenred: partnership with IP Gruppo api in Italy

(CercleFinance.com) - Edenred has announced the signature of a partnership agreement with IP Gruppo api, an Italian fuel and mobility solutions group, from which it will acquire its entire energy card business, with a portfolio of around 50,000 B2B customers.


Growing at a steady pace, IP's energy card business has generated operating sales of over 30 million euros in 2023. The transaction also includes a long-term fuel supply agreement with IP.

The integration of IP's energy card customers into the Edenred UTA digital platform should generate cross-selling opportunities and commercial synergies, and will significantly strengthen Edenred's mobility business in Italy.

The transaction will be paid in full in cash and will be accretive to net income, group share, from the first year. Subject to regulatory approval, the transaction is expected to close in Q3 2024.


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