In a move to expand its global presence, France-based Accor Services has acquired the gasoline cards operations of Autocupon, Mexico's second largest fuel card issuer, for E8.5 million.
Autocupon, a subsidiary of Pegaso Group, has developed a gasoline card offering for trucking companies that enables them to manage fuel, maintenance and other fleet-related costs. The company currently has a portfolio of more than 500 customers and 535 affiliated service stations, and is expected to report E2 million in revenue in 2007.
The purchase will expand Accor Services Mexico’s customer portfolio, which is comprised mainly of companies that operate car fleets using Accor Services’ Ticket Car product to manage their vehicle-related business expenses.
Accor Services Mexico is already the market leader, with 1,200 affiliated service stations and 6,000 customers. Following the acquisition, it holds a 46% share of the gasoline card market for specialized issuers.
As well as enabling Accor Services to expand its presence in Mexico, the acquisition will allow the company to enhance its gasoline card expertise by developing new fleet management services tailored to the needs of trucking companies, and strengthen its leadership in Latin America, especially in managing fuel and maintenance costs for vehicle truck fleets.
The deal follows a series of acquisitions made by Accor Services in the past year as part of its growth strategy, which also include French incentive and motivation agency Stimula, US-based transit voucher issuer Commuter Check, and Italian meal voucher issuer Serial.