Edenred Acquires IP Gruppo api's Energy Cards Business, Bolstering Its B2B Mobility Services in Italy

Edenred, known globally for its B2B Mobility solutions, and IP Gruppo api, Italy's top private fuel and mobility firm, have announced a significant partnership agreement. Under this deal, Edenred will completely take over IP's energy cards division, effectively becoming a leading force in Italy's B2B Mobility services sector. This acquisition encompasses a base of approximately 50,000 B2B clients and includes a long-term fuel supply agreement with IP.

The acquisition marks a strategic expansion for Edenred in Italy, which started its energy card business in the country in 2018. This move not only enhances Edenred's position in the Italian market but also aligns with its commitment to advancing green B2B Mobility solutions nationwide. Partnering with IP, which boasts the largest fuel retail network in Italy, positions Edenred to capitalize on the shift towards electric vehicles (EVs) for B2B fleets.

IP’s rich history and market dominance, backed by a vast network of over 4,600 fuel stations, have made a substantial contribution to its energy card product lineup, particularly benefiting the SME sector. The partnership promises IP’s clientele continued access to the largest fuel network, alongside Edenred's extensive array of Beyond Fuel digital solutions, aiming at streamlining fleet management and facilitating the transition to EVs.

The completion of this transaction, which is subject to regulatory approval, is expected by Q3 2024. It entails a cash payment and is projected to positively impact Edenred’s net profit from the first year. This partnership signifies a step forward in offering comprehensive and sustainable mobility solutions for corporate and professional fleets in Italy.