Up Déjeuner acquired Kmotrík's meal voucher business GGFS
GGFS (Ivan Kmotrík), a meal voucher company, announced it has transferred its customer base to the market leader Up Déjeuner. It is exiting the market two years after a major change in legislation that allowed companies and their employees to choose between meal vouchers and cash. Roughly a third of employees opted for cash, according to meal voucher issuers. The new owner will maintain the existing terms for the acquired customers. GGFS's revenues fell from €3m in 2019 to €1.2m last year, and it lost €3.5m in 2020-22. French firm Up Déjeuner posted a loss of €0.7m on sales of €18.3m last year.
