(Reuters) – Italian caterer Autogrill SpA said on Wednesday it was selling its US road business to a consortium led by Blackstone Infrastructure Partners for $ 375 million.
The sale of businesses offering food and drink from brands such as Starbucks and Burger King along this highway is part of Autogrill’s plans set for 2019.
The Benetton family-controlled group sold its Spain operations to a Barcelona, Area-based restaurant group in January, while the Canadian highway travel center operation was sold out about two years ago.
Autogrill, which also runs a catering business at the airport, hopes to finalize a deal by the summer of 2021.
Because of the sale, the company revised its revenue guidelines for this year and 2024.
It posted a loss of 480 million euros last year as the pandemic vacated the bars and restaurants it runs on airports and highways.
Reporting by Sarah Morland in Gdansk; edited by Jonathan Oatis