The transaction between the two companies was completed on Monday, but the parties involved failed to disclose the value of the deal. Sodexo joined the shareholding structure of Benefit Seven in early 2016, by acquiring a 20% stake.
Benefit Seven was established in 2011 and has three shareholders: Andrei Cretu, Iulian Circiumaru and Catalin Ivascu.Benefit Seven introduced in Romania the concept of sole subscription with free access to a network of centers of recreational sports activities and of wellness.
Benefit Seven management will still be ensured by the founders of the business.
Sven Marinus, CEO Sodexo Benefits & Rewards Services Romania, said the decision to acquire the majority stake in Benefit Seven is a natural step towards developing Sodexo’s portfolio of solutions for the quality of life.
„The partnership with Sodexo enables 7card to enjoy the advantages and resources provided by the largest supplier of extra-salary benefits in Romania, among which the opportunity of accessing the biggest base of companies willing to provide their employees with solutions meant to improve their lives. This is already visible in the evolution of sales registered by Benefit Seven in the first part of 2017,” said Andrei Cretu, co-founder of 7card.
Benefit Seven registered a turnover of EUR2.8 million in 2016, up over 60% against the previous year. For 2017, the company expects to keep the growth trend and reach sales of up EUR4.5 million.
The number of Benefit Seven customers currently rises to over 900 companies. The 7card service has more than 25,000 active subscribers, namely, employees of companies operating the sectors of IT&C, telecommunications, pharma and healthcare, retail, the financial-banking system and insurance, professional services, industrial production and FMCG.