Local subsidiary of French-based Sodexo has become the majority shareholder of Romania’s Benefit Seven, owner of 7card service, after has acquired 40 percent of it, a press release informs. The deal was concluded on July 17, the transaction amount not being disclosed.
Thus, Sodexo increased its stake in Benefit Seven from 20 percent, bought in February last year, to 60 percent. The three co-founders of Benefit Seven, establised in 2011 – Andrei Cretu, Iulian Circiumaru, Catalin Ivascu – will still provide the company’s management.
“The decision to take over the controlling stake in Benefit Seven represents a natural step for the development of Sodexo’s portfolio for the quality of life,” said Sven Marinus, CEO Sodexo Benefits & Rewards Services Romania.
In turn, Romanian co-founder Andrei Cretu said the deal with allow Benefit Seven to increase its clients portfolio.
The 7card service has introduced in Romania the concept of single subscription with free access to a network of recreational and wellness sports centers. Currently, the number of Benefit Seven customers reaches over 900 companies. 7card has over 25,000 active subscribers, employees of companies from IT & C, telecommunications, pharma and healthcare, retail, financial-banking and insurance, professional services, industrial production, FMCG.
The 7card service addresses employees in the corporate sector, works as a monthly subscription product that offers access to over 700 sport centers in 35 cities.
In 2016, Benefit Seven registered a turnover of EUR 2.8 million, up 60 percent over the previous year. For the current year, the company expects to maintain the trend of sales growth, up to EUR 4.5 million.