Autogrill acquired by Avolta

The transaction represents a transformational merger between Dufry, a global leader in travel retail, and Autogrill, a global leader in travel food and beverage services. The combination was designed to create an integrated, diversified global travel experience player with an unparalleled presence across various geographies and service channels. The strategic rationale for the deal centered on redefining the industry's boundaries and creating a new leader with a comprehensive offering for travelers worldwide. For Dufry, the acquisition significantly increases its presence in core markets, particularly the United States, and facilitates a major expansion into the travel food and beverage sector. The deal was also expected to strengthen its balance sheet and generate meaningful synergies. For Autogrill, the merger provides a path for continued growth and development within a larger, more powerful entity. The combination enables a flurry of innovation in offerings, aiming to translate into more enjoyable travel experiences. The deal was structured in two main steps: an initial transfer of the majority controlling stake held by Edizione, the Benetton family's holding company, to Dufry, making Edizione the largest shareholder of the new combined group. This was followed by a mandatory public tender offer for the remaining Autogrill shares to complete the integration.