A new giant is emerging in the travel retail and instant catering sector. The combined company will serve passengers at 5,500 points of sale at approximately 1,200 airports.
Dufry is already the world market leader in travel retail.
The Swiss travel retailer Dufry takes over the Italian airport and motorway caterer Autogrill. The merger will create a globally active group that offers a platform for the retail trade related to the travel business, as both companies announced early Monday morning.
Together, the new group will be able to serve 2.3 billion passengers in more than 75 countries. It has 5500 stores at 1200 airports and other locations. Together, the newly merged company will generate sales of CHF 13.6 billion and an operating profit of CHF 1.4 billion (based on pro forma figures for 2019).
Edizione is to become the main shareholder
The most important Autogrill shareholder with a stake of 50.3 percent, the Edizione Holding of the Benetton family, supports the project according to the announcement. Edizione will transfer its entire stake at an exchange ratio of 0.158 new Dufry shares for each Autogrill share, according to the announcement.
Well known to travelers to Italy: the motorway service stations operated by Autogrill.
The announcement comes as no surprise. After months of speculation, the two companies had confirmed at the end of Junethat they were negotiating a possible merger. Several regulatory authorities still have to approve the transaction. Dufry will convene an Extraordinary General Meeting to decide on the merger.