Autogrill

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Autogrill S.p.A
Type Società per azioni
Traded as BITAGL
Industry Catering
Founded 1977
Headquarters Rozzano, Italy
Key people Gilberto Benetton (Chairman), Gianmario Tondato da Ruos (CEO)
Products Foodservice at service areas, airport terminals, train stations, ports
Revenue 6.139 billion (2010)[1]
Operating income €255.2 million (2010)[1]
Profit €103.4 million (2010)[1]
Total assets €3.943 billion (end 2010)[1]
Total equity €711.4 million (end 2010)[1]
Employees 62,500 (2010)[2]
Subsidiaries Airport Terminal Restaurant, Carestel, HMSHost
Website www.autogrill.com

Autogrill is an Italian-based, multinational catering, which is controlled with a 59% stake by the Edizione Holding investment vehicle of the Benetton family.[3][4] Autogrill runs operations in 40 different countries, primarily in Europe and North America, with over 250 licensed and proprietary brands.[5] Over 90% of the company's business derives from outlets in airport terminals and motorway service areas.[6]

History[edit]

Autogrill was founded in 1977 when SME, a division of Italian state-owned conglomerate Istituto per la Ricostruzione Industriale (IRI), purchased then merged Italian restaurant groups Motta, Pavesi and Alemagna. Pavesi had begun to operate a service area on the Milan-Novara motorway in 1947, replacing it with a bridge structure accessible by travellers in both directions fifteen years later.[7] Having grown both domestically and through foreign acquisitions, Autogrill was privatised by the Italian Government in 1995 as IRI shed its food and beverage businesses.[7] Edizione Holding, the financial holding company of the Benetton family, acquired a controlling stake through the process.

Autogrill global locations
Ecogrill by Giulio Ceppi - Autogrill, Lainate (Milan)
Autogrill in Italy

Edizione floated the company on the Milan Stock Exchange in 1997, sparking a series of acquisitions in overseas markets: by the end of 1998, Autogrill had secured full control of French operator Sogerba (previously owned by Granada Group);[8] AC Restaurants and Hotels of Benelux[9] as well as 14 branches of the Wienerwald chain in Austria and Germany.[10]

Travel Retail and Duty Free business[edit]

In July 1999 the group made its first entry into both the United States and airport concession markets[7] by acquiring Host Marriott Services, which was then renamed HMSHost.[11] Other major acquisitions by the group included the Swiss firm Passaggio (completed in 2001),[7] 70% of high-speed train station operator Receco in 2002,[12] Spanish-based airport duty-free retailer Aldeasa in 2005 (50-50 with Altadis)[13] and Belgium's Carestel (completed in 2007).[14] Autogrill acquired the remaining 50% in Aldeasa for complete control in 2008. It also purchased Alpha Group [15] and World Duty Free Europe in 2008 and merged them with Aldeasa in 2011 to create World Duty Free Group, a super-retailer at Airports.[16] In 2010, it had €785 million in sales in the United Kingdom and €494 million in sales in Spain.[3]

Demerger to WDF[edit]

On 6 June 2013, Autogrill approved the project of proportional partial demerger whereby Autogrill S.p.A. transferred the Travel Retail and Duty Free business to its wholly owned subsidiary World Duty Free S.p.A. (parent company of World Duty Free Group), the beneficiary, by assigning to the latter the entire shareholding in the Group’s Travel Retail and Duty Free business.[17]

On 1 October 2013, World Duty Free has listed on the Borsa Italia in Milan, marking the culmination of the demerger process from parent group Autogrill.[17]

See also[edit]

References[edit]

  1. ^ a b c d e "Annual Report 2010" (in Italian). Autogrill. Retrieved 25 April 2011. 
  2. ^ "Profile". Autogrill. Retrieved 25 April 2011. 
  3. ^ a b Chevalier, Michel (2012). Luxury Brand Management. Singapore: John Wiley & Sons. ISBN 978-1-118-17176-9. 
  4. ^ "Ownership structure". Autogrill S.p.A. Retrieved 10 October 2010. 
  5. ^ Autogrill.com - Strategia dei marchi
  6. ^ "Reports and Accounts 2006". Autogrill S.p.A. Retrieved 2007-10-26. 
  7. ^ a b c d "History". Autogrill S.p.A. Archived from the original on 23 October 2010. Retrieved 10 October 2010. 
  8. ^ "Autogrill to buy French concern Sogerba". Nation's Restaurant News. 15 December 2007. Retrieved 2007-10-26. 
  9. ^ "History". AC Hotels and Restaurants. Archived from the original on 2008-03-05. Retrieved 2007-10-26. 
  10. ^ Hansen, James (7 March 1998). "Spicing Up the European Pizza Market". International Herald Tribune. Retrieved 2007-10-26. 
  11. ^ Tagliabue, John (27 August 1999). "'Begols' and 'Dirty Water'; Fast-Food Chains Take U.S. Marketing to Europe". The New York Times. Retrieved 2007-10-26. 
  12. ^ "Autogrill compra el 70 por ciento de Receco por 17 millones de euros". labolsa.com. 14 March 2002. Retrieved 2007-10-26.  (Spanish)
  13. ^ Davoudi, Salamander (12 January 2006). "Autogrill sounded out over SSP bid". Financial Times. Retrieved 2007-10-26. 
  14. ^ "Squeeze-out takes Autogrill to 99,81% of Carestel" (Press release). Carestel Group. 5 February 2007. Retrieved 2007-10-26. 
  15. ^ "Autogrill moves to take over Alpha Airports". Reuters. 4 June 2007. Retrieved 2007-10-26. 
  16. ^ "Autogrill buy of remaining 50 pct stake of Aldeasa cleared by EU". Forbes. AFX News. 8 April 2008. Retrieved 2009-06-21. 
  17. ^ a b |url=http://www.reuters.com/finance/stocks/overview?symbol=AGL.MI%7C

External links[edit]