PARIS (dpa-AFX) - French food services and facilities management company Sodexo SA (SDXAY.PK) Monday announced partnership between Pluxee (Sodexo Benefits & Rewards Services) and private banker Santander Brazil for a 25-years distribution of Pluxee's Employee Benefit solutions in the Santander network.
As part of this partnership, Santander will hold 20% of Pluxee Brazil.
Pluxee expects the transaction to add to its organic growth and EBITDA margin from the first year.
'The expansion of the distribution network in the country will accelerate the penetration of the SME businesses and contribute to Pluxee's market share growth in Brazil, one of the largest Employee Benefit markets in the world,' said Aurélien Sonet, CEO of Pluxee.
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