FRANCE. Elior Group has completed the acquisition of Autogrill’s railway stations concession business in France for €27.5 million. Elior is the owner of concession catering brand Areas.
The full transaction involved Autogrill subsidiary Holding de Participations Autogrill transferring its entire investment in Autogrill Restauration Service, which manages Autogrill’s food & beverage business in some French railway stations.
The business is worth about €50 million in annual revenues, according to Autogrill.
Autogrill had previously granted Elior Group exclusive negotiation rights up to 31 July 2016. At that time (19 May), Autogrill CEO Gianmario Tondato Da Ruos stated that France “was and would remain” one of the key markets for the company in Europe.
He said: “In this market we’re assessing the advisability of selling the railway station channel, in which we can rely on operations that are high quality but limited in size and where we don’t see immediate opportunities for growth, and concentrating on other channels in which we’ll immediately be able to act to greater effect.
“This operation is part of our strategy of constantly strengthening and focusing our business portfolio through acquisitions and disposals to bolster growth through the winning of new contracts.”
Elior Group Chairman and CEO Philippe Salle commented (on 19 May): “This transaction allows us to accelerate Areas’ development strategy in the railway segment and strengthens our leadership position in France. We strongly believe in the benefits of transforming train stations into enjoyable living areas for travellers and others.
“In order to ensure the success of those new travel environments and improve customer experience, we will develop and implement innovative and attractive products and digital concepts.”
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