Autogrill buys Passaggio from Bon appétit Group
Tuesday, December 19, 2000 - 00:00
Milano , 19 December 2000 - Autogrill, the world’s leading provider of restaurant services for travellers owned to 57% by the Benetton family, signed a contract with Bon appétit Group AG, Switzerland’s leading exchange-listed food trading company, concerning the purchase of Passaggio Holding. Passaggio operates with a leading position in the field of travel catering – it has 104 points of sale in Switzerland – and posted sales of CHF 252,3 m. in 1999, EBITDA of CHF 19 million. Autogrill will buy all of the Passaggio Holding shares, for which it will pay cash. The transaction will take place before the end of the year 2000. The joint venture with Starbucks will remain part of Bon appétit.