Autogrill: completes acquisition of German Le CroBag

Milan / IT. (aspa) Italy’s Autogrill S.P.A. announces that, through its German subsidiary Autogrill Deutschland GmbH, has finalized the purchase from Boulangerie Neuhauser S.a.S., a company of the Groupe Soufflet, of the entire share capital of Le Crobag GmbH + Co KG and F.F.N. GmbH, which operate food + beverage activities under the Le CroBag brand in Germany, Austria and Poland. The transaction is worth 65 million EUR.

Le CroBag group runs today 123 stores, both directly managed and licensed, of which 114 in Germany. In 2017, the overall revenue exceed 80 million EUR, of which 57 million EUR in the locations directly managed, for an overall Ebitda of around 7 million EUR.

Autogrill today manages 55 stores in Germany at airports, on motorways and in shopping malls.

With the acquisition of the Le Crobag group Autogrill enters Europe’s biggest railway station channel, worth over 600 million EUR. The acquisition is consistent with Group strategy to focus on the more profitable channels and countries in Europe.

The transaction was cleared by the anti-trust authorities on 06 February 2018.

The launch of exclusive negotiations [DE] between Autogrill and Groupe Soufflet was announced on 21 December 2017. Consultation with employee representatives was successfully completed on 05 January 2018.