Autogrill Group finalizes the sale of Spanish businesses
Included 60 points of sale in the Iberian motorway channel
The Autogrill Group announces that Autogrill Europe SpA - following obtaining the authorization from the Spanish antitrust authority - has implemented the agreement, already announced on 24 November 2020, concerning the sale of all activities in Spain. Through the sale of the entire stake in Autogrill Iberia Slu to the Areas Group.
The activities sold include 60 points of sale, mainly present in the Iberian motorways channel, which in 2019 generated about 80 million euros in revenues. The value of the sale (Enterprise value) was set at an amount equal to Euro 12 million.
The transaction is part of the process of optimizing capital allocation and refocusing the contract portfolio in the areas and channels currently with the highest potential for growth and prospective profitability. However, the Autogrill Group remains attentive to any development opportunities that may arise in the future and therefore does not rule out a possible re-entry into the Spanish market should the conditions arise.
Autogrill is a world reference in F&B under concession, with a 2019 turnover of 5 billion euros, of which around 60% in the airport sector, and is present in 31 countries in 1000 locations and with 60,000 employees.
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