Autogrill Europe S.p.A., a subsidiary of Autogrill S.p.A., announces that it has entered into an agreement for the sale to the Spanish group Areas of the 100% of its Spanish operations managed through Autogrill Iberia Slu.
The transaction is part of the process of capital allocation optimization and refocusing of the contract portfolio on the geographical areas and channels with higher growth potential and expected profitability.
The Spanish operations include 60 point of sales, mainly located on motorways, which generated approximately 80 million Euro revenue in 2019.
The agreed Enterprise Value is 12 million Euro. The closing of the transaction is subject to the necessary approvals of the Spanish Antitrust Authority.
Autogrill is the global leader of the concession F&B market, with 5 bln Euro revenue, of which approximately 60% at airports, and is active in 31 countries with 1,000 locations and 60,000 employees.