PARIS--(BUSINESS WIRE)--Regulatory News:
Elior Group (Paris:ELIOR) and Autogrill today announced they entered into exclusive negotiations with a view to transfer 100% of the share capital of Autogrill Restauration Service, which owns concessions of Autogrill restaurants in railway stations in France. The business under negotiation represents annual revenue of around €50 million.
The exclusivity is granted by Autogrill to Elior Group until July 31, 2016.
Autogrill and Elior Group will launch an information and consultation process with their respective relevant employee representatives and stakeholders with respect to the transaction. The transaction remains subject to the approval of Autogrill S.p.A. Board of Directors.
“France is and will remain one of the key markets for Autogrill’s presence in Europe. 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,” said Autogrill CEO Gianmario Tondato Da Ruos.
“This transaction allows us to accelerate Areas1’ 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 travelers and others. Together with our landlord and brands partners, we are joining our unique expertise and know-how. In order to ensure the success of those new travel environments and improve customer experience, we will develop and implement innovative and attractive product and digital concepts,” said Philippe Salle, Chairman and CEO of Elior Group.
1 Areas, global number three in travel catering, is Elior Group’s international concession catering brand.
About Elior Group
Founded in 1991, Elior Group has grown into one of the world's leading operators in the catering and support services industry, and is now a benchmark player in the business & industry, education, healthcare, and travel markets.
In FY 2014-2015, it generated €5,674 million in revenue through 18,600 restaurants and points of sale in 13 countries. Our 108,000 employees serve 4 million customers on a daily basis, taking genuine care of each and every one by providing personalized catering and service solutions to ensure an innovative customer experience.
We place particular importance on corporate social responsibility and have been a member of the United Nations Global Compact since 2004. The professional excellence of our teams, as well as their unwavering commitment to quality and innovation and to providing best-in-class service is embodied in our corporate motto: "Time savored".
For further information: http://www.eliorgroup.com Elior Group on Twitter: @Elior_Group
About Autogrill Group
Autogrill is the world’s leading provider of f&b services for travellers. Active in 30 countries with around 57,000 employees, it has around 4,200 points of sale in around 1,000 locations and operates prevalently under concession agreements in airports, on motorways and in railway stations, as well as in select shopping centres, trade fairs and museums. The Company has a portfolio of over 250 international and local brands, managed directly or under license. Listed on the Milan stock exchange, Autogrill is indirectly controlled by Edizione S.r.l., the financial arm of the Benetton family, with 50.1% of the share capital.
@Elior_Group #TimeSavored @Areas #SavorYourWay