Accor Services Gains Leadership of the Meal Voucher Market in the Czech Republic With the Acquisition of Local Operator Exit Group
* Reuters is not responsible for the content in this press release.
Accor Services Gains Leadership of the Meal Voucher Market in the Czech Republic With the Acquisition of Local Operator Exit Group PARIS, October 5 /PRNewswire-FirstCall/ -- As part of its growth strategy, Accor Services has acquired Exit Group, the fourth largest provider of meal vouchers in the Czech Republic. With a strong position among small and mid-sized businesses, Exit Group reported an issue volume of EUR77 million in 2008. Thanks to their synergistic geographic coverage and customer bases, Accor Services Czech Republic and Exit Group will combine to make Accor Services a market leader in this high potential region. The Czech meal voucher market is estimated at around EUR600 million for 1.2 million users. Exit Group's products will quickly be re-branded with the Ticket Restaurant name. Accor Services now offers two product families in the Czech Republic: - Benefits for employees and constituents: Ticket Restaurant, Ticket and Card Benefits, Benefity Cafe (Employee Benefits) - Ticket Services (Government Benefits). - Rewards and incentives: Ticket Compliments. With this acquisition, Accor Services has widened its share of the meal voucher market and will also gain access to Exit Group's 165,000 end users for its value-added products and services. The transaction was finalized at a price of EUR15 million. Accor Services Czech Republic's post-acquisition issue volume is estimated at EUR250 million. "This acquisition fits in with Accor Services' global growth strategy, which combines organic growth and targeted acquisitions to quickly enhance our positions in countries with high growth potential," explains Serge Ragozin, Chief Executive Officer of Accor Services. Accor Services, the world leader in prepaid service cards and vouchers, designs and develops innovative products and services that enhance individual well-being and organizational performance for companies and public institutions. Through its secure, prepaid solutions, Accor Services makes life easier for employees, constituents and consumers, in alignment with the social benefit commitments, economic policy goals and marketing strategies of its customers. Its portfolio focuses on three types of service: employee and public benefits, rewards and loyalty, and business expense management. Today, 32 million people benefiting from Accor Services products in 40 countries. http://www.accorservices.com Accor, a major global group and the European leader in hotels, as well as the global leader in services to corporate clients and public institutions, operates in nearly 100 countries with 150,000 employees. It offers to its clients over 40 years of expertise in two core businesses: - Hotels, with the Sofitel, Pullman, MGallery, Novotel, Mercure, Suitehotel, Ibis, all seasons, Etap Hotel, Formule 1 and Motel 6 brands, representing 4,000 hotels and nearly 500,000 rooms in 90 countries, as well as strategically related activities, such as Lenotre. - Services, with 32 million people in 40 countries benefiting from Accor Services products in employee and constituent benefits, rewards and incentives, and expense management. SOURCE Accor Accor Services Press Contact: Monique Denoix, Image7, Tel: +33(0)1-53-70-74-57, firstname.lastname@example.org; Investor Contacts: Eliane Rouyer-Chevalier, Senior Vice President, Investor Relations and Financial Communications, Tel: +33(0)1-45-38-86-26; Solene Zammito, Deputy Director, Investor Relations, Tel: +33(0)1-45-38-86-33
- Flights delayed as air pollution hits record in Shanghai
- White House reverses, says Obama met uncle and lived with him during law school
- South Africa mourns Mandela, will bury him on December 15 |
- French launch Central African Republic mission but deaths mount
- Supreme Court to decide on patent protections for software