Edenred has entered Japan – its 39th country – with the acquisition of Barclay Vouchers, the only company in the local meal voucher market.

The acquisition of Barclay Vouchers in Japan enabled the Edenred to establish a foothold in a country that enjoys significant growth potential, with 63 million employees and a penetration rate that is still very low – estimated at less than one per cent.

With more than 600 clients, Barclay Vouchers, the only player in the Japanese market for meal vouchers, generated approximately €100 million (US$123.9 million) of vouchers in 2011. The acquisition gives Edenred direct access to a nationwide network of over 30,000 affiliates.

“With this transaction, Edenred has reaffirmed its commitment to strengthening its presence in the Asia-Pacific region, which is a strategic growth territory, especially in terms of geographic development,” said Laurent Pellet, COO, Edenred Asia-Pacific.

Laurent Gachet, previously CFO, Edenred Brazil, has been chosen to head operations in Japan. His mission is to develop solutions in a local market that still has a very low penetration rate.

GB