PAI Partners Submits a €1.5bn Binding Offer for Catering Specialist ‘Áreas’

24 April 2019 – El País

The French group Elior has received a binding offer amounting to €1.542 billion from the investment group PAI Partners for Áreas, the company specialising in catering services located in travel areas and headquartered in Spain. The aim of the two parties is to close the operation this summer.

The Spanish group recorded revenues of €1.832 billion last year, making it the third largest concessions brand in its sector in the world. It will gain operational autonomy as a result of the sale.

Áreas operates in fourteen counties around the world – it is the market leader in Spain (27% market share), France and Portugal, and the third largest operator in the USA. Its 21,000 employees work in 90 airports, 84 train stations and 220 roadside service stations.

The objective of PAI Partners is to support and finance Áreas’s growth plans over the next few years.

Original story: El País (by Dani Cordero)

Translation/Summary: Carmel Drake

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