Edenred acquires UK fuel card business
Global fuel card specialist Edenred has acquired the British business, The Right Fuelcard Company (TRFC) for about £95 million (€107 million), to gain a foothold in the UK market.
TRFC has 27,000 corporate customers and 150,000 cardholders in the UK where it claims to be the fourth largest fuel card supplier. Its fuel card is accepted at 90% of filling stations, including those run by Shell and Esso as well as supermarkets and the Keyfuels network.
Antoine Dumurgier, chief operating officer, fleet & mobility solutions at Edenred, said the acquisition, “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.”
The deal is expected ot be completed in early 2019, with Edenred purchasing 80% of the TRFC group’s share capital.