Introduction to Avolta Takeover
CVC Capital Partners, a buyout company with a stake in Rugby’s Six Nations Championship, is exploring a takeover offer of 6 billion GBP for Avolta, the duty-free Indian trade and travel catering giant.
Background on Avolta
Avolta, headquartered in Switzerland, could be the subject of a takeover proposal in conjunction with the family of billionaires Benetton, which holds a major minority stake in the company after the merger of Autogrill and Dufry in 2023.
Details of the Potential Takeover
Sources close to the situation have stated that CVC would pursue a formal approach to take Avolta privately. However, it is not clear whether members of the Benetton family would participate in a deal. Alessandro Benetton, a former board member of Autogrill, is Avolta’s honorary chairman.
Avolta’s Operations
The global retail area of Avolta sells products from many of the world’s best-known brands, including Apple, Clinique, Tag Heuer, and Lego. The company employs around 75,000 people and operates in 75 countries, including around 1,200 airports and numerous other travel locations.
Market Reaction
CVC declined to comment, while Avolta did not respond to a request for a statement. The shares in Avolta traded on Tuesday afternoon at around CHF 41.16, giving the company a market capitalization of 5.94 billion GBP (5.4 billion GBP).
