- The transaction enables Autogrill to enter the German railway station channel, Europe’s biggest
- The transaction is worth euro 65 million
Autogrill S.p.A. (Milan: AGL IM) announces that, through its German subsidiary Autogrill Deutschland Gmbh, has finalized today the purchase from Boulangerie Neuhauser s.a.s, a company of the Groupe Soufflet, of the entire share capital of Le CroBag Gmbh & Co. KG and F.F.N. GmbH, which operate food & beverage activities under the Le CroBag brand in Germany, Austria and Poland.
The transaction is worth euro 65 million.
Le CroBag group runs today 123 stores, both directly managed and licensed, of which 114 in Germany. In 2017, the overall revenue exceed €80 million, of which €57 million in the locations directly managed, for an overall EBITDA of around €7 million.
Autogrill today manages 55 stores in Germany at airports, on motorways and in shopping malls.
With the acquisition of the Le Crobag group Autogrill enters Europe’s biggest railway station channel, worth over €600 million. The acquisition is consistent with Group strategy to focus on the more profitable channels and countries in Europe.
The transaction was cleared by the anti-trust authorities on 6 February 2018.
The launch of exclusive negotiations between Autogrill and Groupe Soufflet was announced on 21 December 2017. Consultation with employee representatives was successfully completed on 5 January 2018.