SPAIN. Leading travel restaurateur Autogrill Europe has struck a deal to sell its Spanish operations – managed through Autogrill Iberia Slu – to F&B and travel retail group Areas. The enterprise value is €12 million. The closing of the transaction is subject to approval by Spanish antitrust authorities.
Autogrill’s Spanish operations include 60 points of sale, mainly on motorways, which generated around €80 million in revenue in 2019.
Autogrill said in a statement: “The transaction is part of the process of capital allocation optimisation and refocusing of the contract portfolio on geographical areas and channels with higher growth potential and expected profitability.”
