It ensures that it maintains activity in the 60 establishments that the group manages in Spain.
The restoration operator Areas has reached a “Preliminary agreement” with the Italian group Autogrill to acquire 100% of Autogrill Iberia, which will involve the transfer of the concessions and establishments and airports, train stations and motorways of Autogrill in Spain, as well as its staff of about 1,000 employees, as confirmed to Europa Press from the Spanish company.
“The pre-agreement involves the sale to Areas by Autogrill Europe of 100% of Autogrill Iberia and its staff of 1,000 workers“, The company has indicated, underlining that the preliminary draft of the sale” will enter into force once the necessary approvals have been obtained from the National Competition Authority. “
With this agreement Areas assumes and ensures the continuity of the traveler service in the 60 establishments of restoration that Autogrill manages in Spain located mainly in highways, airports and railway stations, whose business volume exceeds 80 million euros.
The economic terms of the agreement are subject to confidentiality and will not be made public. The newspaper ‘El Confidencial’ advanced this Tuesday the pre-agreement between Areas and Autogrill to integrate the businesses of both companies in Spain.
Areas was acquired in 2019 by the venture capital firm PAI Partners, thus ceasing to be a subsidiary and concession brand of the French group Elior Group. Following this acquisition, Areas returned its world headquarters to Barcelona, the city where it was born in 1968.
Areas is one of the world leaders in Food & Beverage and Travel Retail, with revenues of 1,900 million euros in the 2018/19 financial year. The company receives 348 million customers each year in its 1,928 restaurants and stores in 12 countries around the world.