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Article: Italy's Autogrill buys U.K. and Spanish duty free businesses
- Article from:
- AP Worldstream
- Article date:
- March 10, 2008
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Autogrill SpA, the Italian operator of restaurants for travelers, on Monday said it bought a U.K.-based duty free business and took full control of a Spanish duty free chain in deals worth more than 1 billion (US$1.5 billion).
Autogrill, which is controlled by the apparel-making Benetton family, said the deals made it the leading player in the airport retail market, with the largest presence in Europe and room to grow elsewhere.
Autogrill said it bought World Duty Free, a unit of airport operator BAA, in a transaction valued at GBP 543.5 million (711 million/US$1.1 ...