Pluxee | April 2025

Today we’re turning our eyes to a special situation: Pluxee. Pluxee is an employee benefits company that acts as the middleman between employers, employees, and merchants. 

In February 2024 Pluxee was spun-off from Sodexo. As Joel Greenblatt reminds us in You Can Be a Stock Market Genius, spin-offs are one of the best hunting grounds for interesting opportunities. 

Something to like about Pluxee, is its ownership structure. The Bellon Family, who founded Sodexo, holds 42% of the ordinary shares and 58% of the voting rights at both Sodexo and Pluxee. That makes Pluxee a family-owned business. This often means a company is long-term oriented. 

To put the cherry on top, Pluxee also has an understandable business model with growing revenues. The business model even has a compartment of float within it! The factors combined make Pluxee an exciting company to analyze deeper.

But be careful. Pluxee has plenty of risks which we will uncover in the analysis.

Disclaimer:
Nothing in this podcast can be considered financial advice. This is for educational purposes only. We may hold positions in the businesses discussed. Do your own research.

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