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Autogrill (BIT: AGL) is an Italian-based, multinational catering and retail company, the world's largest in the travel dining sector,[3] which is controlled with a 57% stake by the Edizione Holding investment vehicle of the Benetton family.[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]
[edit] Company historyAutogrill 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. 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] 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.[15] [edit] See also[edit] References
[edit] External links
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