Autogrill enters Vietnamese F&B market with IPP Group joint venture

With this operation we are entering a country of high growth potential and strategic importance for further development
Gianmario Tondato Da Ruos
Autogrill Group

VIETNAM. Autogrill has entered the Vietnamese airport food & beverage market after announcing a joint venture with local operator Imex Pan Pacific (IPP) Group.

The joint venture between Autogrill’s HMSHost subsidiary and Imex Pan Pacific’s Vietnam Food & Beverage Services Company will operate more than 80 outlets at the country’s airports by the end of 2014 following an aggressive expansion plan.

Autogrill anticipates annual revenues of more than US$20 million once the plan is completed.

The new venture will take over the 28 outlets that IPP Group already operates at Ho Chi Minh, Da Nang and Phu Quoc airports. An additional 6 points of sale will be open at Hanoi airport in the second half of the year, with a further 48 stores over the next 18 months.

Autogrill CEO Gianmario Tondato Da Ruos said: “With this operation we are entering a country of high growth potential and strategic importance for further development, also in other travel channels in Vietnam and emerging markets in Asia.

“This alliance with Autogrill will bring new expertise to the highly dynamic Vietnamese market and facilitate major investments in the country,” added IPP Group President Le Hong ThuyTien.

The F&B offering features international brands including Burger King, Domino’s Pizza and Popeye’s Chicken as well as concepts designed specifically for the airports (Star Café). Asian cooking restaurants (Big Bowl, Next Noodles, Kaisha Sushi) will feature heavily and the companies said that other collaborations with other international brands are also possible in the future.

Vietnam is expected to see the fastest passenger growth in Asia beyond China and India, at an average of 8.6% till 2020, according to Airports Council International. The government will invest around US$20 billion to develop the airport sector over the next few years.

Around 90% of the 37 million passengers travelling through Vietnamese airports in 2012 are concentrated in the country’s top three airports – Ho Chi Minh, Hanoi and Da Nang.

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