Autogrill start negotiations to acquire Le CroBag
The agreement is an opportunity to enter the main European railways channel
Autogrill, through its German subsidiary Autogrill Deutschland, has entered exclusive negotiations with Soufflet Group subsidiary Boulangerie Neuhauser to acquire 100% of food & beverage operators Le CroBag.
The two F&B companies mainly operate railway station F&B activities under the Le CroBag* brand in Germany, Austria and Poland. The Le CroBag network comprises 124 outlets, both directly managed and licensed, with overall revenue exceeding €80 million in 2016.
“Germany is one of the key markets for food & beverage in Europe, where Autogrill intends to strengthen its presence,” said Autogrill Group CEO Gianmario Tondato da Ruos. “The acquisition of Le CroBag is also an opportunity to enter the main European railways channel, worth more than €600 million, with a development potential also in other European countries.
Autogrill today operates 55 outlets in Germany at airports, motorways and shopping malls, generating revenue of around €100 million in 2016.
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