SPAIN. Leading travel restaurateur Autogrill Europe has completed the sale of its Spanish operations – managed through Autogrill Iberia Slu – to F&B and travel retail group Areas. The enterprise value is €12 million, as reported.
The move was first announced on 24 November, with agreement following from the anti-trust authorities in Spain.
Autogrill’s Spanish operations include 60 points of sale, mainly on motorways, which generated around €80 million in revenue in 2019.
Autogrill said: “The transaction is part of the process of optimising capital allocation and refocusing the contract portfolio on areas and channels which currently have the highest potential for future growth and profitability.
“However, the Autogrill Group will take into account any development opportunities that may arise in the future and therefore does not rule out a possible return to the Spanish market should the conditions arise.”
