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.