The Benetton family's Schema34 holding company, which controls Autogrill, is set to make further acquisitions once the expected takeover of the remaining 50% of Spanish travel retailer Aldeasa is completed, according to Autogrill President Gilberto Benetton.

 

Speaking in an interview with respected daily newspaper la Repubblica, Benetton said: “We would like to conclude the acquisition of Aldeasa from the Altadis holding [the Franco–Spanish tobacco house that currently also holds 50% of Aldeasa –Ed] within the first months of 2008 at the right price. As is already known, Altadis is being taken over by Imperial Tobacco, but I don't think it is interested in the Aldeasa business.”

 

The conclusion of the Aldeasa transaction would allow the group to “cash in some ?400 million in revenues”, Benetton said. He told the newspaper that Autogrill could examine the possibility of spinning off the traveller refreshment [catering] services area from the management of stores, especially in airports.

 

Regarding the much-discussed target of BAA-owned World Duty Free, Benetton said that for now the company is not for sale. “When it is for sale, we will decide whether to bid for it or not,” he added.