Autogrill ‘lands’ in China. The group has signed two agreements to open 11 food & beverage outlets at Beijing and Sanya International Airports. Together the two contracts (which will open in Q2 2015) are expected to generate revenues of around eur 50 million. At Beijing Airport, business will be run via a joint venture with Huazhuo, a leading local airport operator. There will be 7 locations, expected to produce overall sales of eur 44million during the six years contract duration.
At Sanya Airport (one of the China’s main tourist destinations), the Italian company has formed a partnership with Cosmos, an experienced Chinese operator, to run 4 locations – two of which will be managed directly by Autogrill; two under sub-concessions. The company expects business here to generate total revenues of eur 6 million.
Italian catering giant is controlled with a 59% stake by the Edizione Holding investment vehicle of the Benetton family. Autogrill runs operations in 40 different countries, primarily in Europe and North America, with licensed and brands. Over 90% of the company’s business derives from outlets in airport terminals and motorway service areas.
Autogrill Group has been active in Asia since 1998 when it started operations in Malaysia, followed by its entry into Singapore in 2007 and India in 2008. In the past two years, in line with its strategy of internationalization and focus on the airport channel, the group has stepped up its expansion in the Asiatic area (where airport traffic grew +5.9% in 2014) with F&B contract gains in the main airports of Vietnam and Indonesia.