Edenred enters the UK fleet and mobility solutions market

Edenred have announced the signing of an agreement to acquire 80% of the share capital of The Right Fuelcard Company (TRFC) group, the number four fuel card program manager in the United Kingdom.

By expanding into the UK market, one of the largest in Europe, Edenred is consolidating its position as a global provider of fleet and mobility solutions in line with its Fast Forward strategy.

The TRFC group’s 150,000 cardholders can fill up at 90% of UK service stations using monobrand fuel cards, such as the euroShell and BP Plus cards, or multibrand cards, which provide access to independent and supermarket-based fuel retailers. The TRFC group, based in Leeds and Glasgow, is expected to generate more than £11 million in EBITDA in 2018.

Each year, companies consume more than 19 billion litres of fuel to keep their fleets on the road in the United Kingdom, making the country one of the main markets in Europe, along with France and Germany.

“We are delighted about this transaction, which will enable Edenred to continue expanding in the field of fleet and mobility solutions by directly giving us pride of place in one of Europe’s largest markets,” said Antoine Dumurgier, Chief Operating Officer, Fleet & Mobility Solutions at Edenred.

Listed on the Euronext Paris stock exchange and part of the CAC Next 20 index, Edenred operates in 45 countries, with close to 8,000 employees.