Pluxee announces completion of Cobee acquisition
26 Settembre 2024 - 7:02AM
UK Regulatory
Pluxee announces completion of Cobee acquisition
Pluxee announces completion of
Cobee acquisition
Paris, September 26, 2024 //
Pluxee (the “Group”), a global leader in Employee Benefits and
Engagement, today announces the successful completion of its
acquisition of Cobee, a Spanish innovative digital player in
Employee Benefits. The signing of this acquisition was announced on
June 12, 2024, and, since then, Pluxee has obtained the necessary
approval by the Spanish regulatory authorities.
With this acquisition, Pluxee delivers the first
milestone of its targeted and disciplined M&A strategy,
strenghtening its position in the Spanish growing and
underpenetrated Employee Benefit market. The combination
of Pluxee’s and Cobee’s respective talents, capabilities, and
technology will create a complete, competitive, and attractive
solution in Spain, Portugal, and Mexico, broadening the
Group’s existing benefit offering and enhancing its tech
capabilities at global scale.
Cobee serves more than 1,500 clients and 100,000
employee consumers with a broad multi-benefit offering, including
over 12 products covering meal vouchers, training, health and life
insurance, physical well-being and employee discounts.
The transaction is fully funded from existing
financial resources, with limited impact on leverage. As such, the
transaction is expected to be neutral in terms of Pluxee’s
Recurring EBITDA and Free cash flow in Fiscal 2025 and accretive to
its Recurring EBITDA margin and Net income from Fiscal 2026.
About Pluxee
Pluxee is a global player in employee benefits
and engagement that operates in 31 countries. Pluxee helps
companies attract, engage, and retain talent thanks to a broad
range of solutions across Meal & Food, Wellbeing, Lifestyle,
Reward & Recognition, and Public Benefits. Powered by leading
technology and more than 5,000 engaged team members, Pluxee acts as
a trusted partner within a highly interconnected B2B2C ecosystem
made up of more than 500,000 clients, 36 million consumers and 1.7
million merchants. Conducting business for more than 45 years,
Pluxee is committed to creating a positive impact on local
communities, supporting wellbeing at work for employees and
protecting the planet.
For more
information: www.pluxeegroup.com
About Cobee
Cobee is a Spanish startup supporting companies
in managing employee benefits and compensation through a
centralized digital platform. Its powerful SaaS tool drastically
reduces administration and paperwork and improves the company’s
employer branding. In turn, employees can access and enjoy all
benefits in the most flexible manner, in a single place and with a
single card, which translates into unprecedented usage and uptake
ratios.
Since its foundation in 2019 by Borja Aranguren,
Ignacio Travesí and Daniel Olea, Cobee has been supported by well
renowned venture capital funds through several financing rounds. It
has expanded its Spanish operation to Portugal and Mexico. Today,
it has over 180 employees and it serves more than 1,500 company
clients with over 100,000 users.
For more information: www.cobee.io
Contacts
Media
Cecilia de Pierrebourg
+33 6 03 30 46 98
cecilia.depierrebourg@pluxeegroup.com |
Analysts
and Investors
Pauline Bireaud
+ 33 6 22 58 83 51
pauline.bireaud@pluxeegroup.com |
Forward-looking statements
This press release contains forward-looking
statements. These forward-looking statements reflect the Group's
intentions, current beliefs, expectations and assumptions,
including, without limitation, assumptions regarding the Group's
future business strategies and the environment in which the Group
operates, and involve known and unknown risks, uncertainties and
other important factors beyond the Group's control, which may cause
the Group's actual results, performance or achievements to be
materially different from those expressed or implied by these
forward-looking statements. These risks and uncertainties include
those discussed in the prospectus dated January 10, 2024 which is
available on the Company website (www.pluxeegroup.com) and the AFM
website (www.afm.nl). Accordingly, readers of this press release
are cautioned on relying on these forward-looking statements. These
forward-looking statements are made as of the date of this press
release and Pluxee Group expressly disclaims any obligation or
undertaking to release any updates or revisions to any
forward-looking statements included in this press release to
reflect any change in expectations or any change in events,
conditions or circumstances on which these forward-looking
statements are based.
Disclaimer
This press release does not contain or
constitute an offer of securities for sale or an invitation or
inducement to invest in securities in France, the United States, or
any other jurisdiction.
- Press release_Pluxee announces completion of Cobee
acquisition
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