Edizione Srl, the holding company of the Benetton family,
reported aggregate turnover of 11.4 billion Euro in 2008, with the
group’s total number of employees exceeding 70,000 people
(Full Time Equivalent). Edizione Srl, previously named Ragione, has
merged the two sub-holdings, Edizione Holding Spa and Sintonia Spa,
with effect from 1st January 2009. Edizione operates in
the retail sector, principally with the shareholdings in Benetton
Group and Autogrill, and through its subsidiary Sintonia SA, in the
sector of infrastructure and mobility services, with shareholdings
in Atlantia-Autostrade per l’Italia, Investimenti
Infrastrutture (Gemina-Aereoporti di Roma), Eurostazioni-Grandi
Stazioni, SAGAT and Telco-Telecom Italia.
Edizione is also present in the private equity sector, through 21
Investimenti, as well as in the real estate, agriculture, hotel and
sports sectors, and has portfolio equity investments in, among
others, Mediobanca, Assicurazioni Generali, RCS and Pirelli.
The parent company has the objective of facilitating its
subsidiaries’ expansion plans and strengthening their
presence in the relevant business sectors, through, among others,
the acquisition of new shareholdings both in Italy and abroad,
enhancing the value of international relationships developed over
the years.
Benetton Group
Today, the Benetton Group is present in 120 countries around the world. Its core business is fashion apparel: a group with a strong Italian character whose style, quality and passion are clearly seen in its brands, the casual United Colors of Benetton, the glamour oriented Sisley, the leisurewear brand Playlife. The Group produces over 150 million garments every year. Its network of about 6,000 contemporary stores around the world, offers high quality customer services and generates a total turnover of over 2 billion euro.
Autogrill
Autogrill is the world leader in catering and retail services
for travellers. With a turnover of around 4.9 billion euro in 2007,
two thirds of which generated abroad and half in the United States,
it is one of the principal Italian multinationals. Present in 32
countries, with over 5,500 points of sale in 1,200 locations,
where, each year, 74,000 staff serve more than 890 million
customers, the Group is primarily active on highways, in airports
and railway stations. In the global catering market, Autogrill is
the only player to operate almost exclusively through concessions,
through contracts assigning the right to run specific services in
specific areas against payment of rents and royalties.
The unique nature of the Company business model derives from the
management of a portfolio of over 350 internationally, nationally
and locally known brands (owned and under licence) of established
quality. The acquisition of Aldeasa, the principal Spanish retail
operator, also present in South America, the Middle East and North
Africa, represented a further development opportunity in terms of
geographic cover and product diversification.
In 2007 Autogrill acquired 65.5% of Alpha Airport plc for over 120
million pounds sterling.The company, with a turnover of over 561.5
million pounds sterling in 2006, around 200 points of sale in 81
terminals in 17 countries and in over 100 airlines, is one of the
principal British in-flight and airport catering and retail service
operators.
Autogrill, 59% owned by Edizione through Schematrentaquattro, has
been listed on the Milan stock exchange since 1997.
Grandi Stazioni
Redefinition of the social and economic role of railway stations, with particular reference to the architectural areas and services offered: these are the objectives of Grandi Stazioni, in which Edizione, together with partners such as Pirelli, the Caltagirone Group and SNCF (French railways), holds 40% through Eurostazioni. The project involves 13 of the largest Italian stations, with a total of 700,000 square metres and used by more than 700 million people a year.
Sintonia
Sintonia SA involves, through a minority shareholding, prestigious partners – namely GIC Special Investments (a Singapore Government Investment Fund), GS Infrastructure Partners (an infrastructure fund managed by Goldman Sachs) and Mediobanca spa – with which it shares strategies and development objectives in the infrastructure and mobility service sector both in Italy and abroad. Its subsidiaries are Atlantia, Investimenti Infrastrutture (Gemina), Sagat and Telco.
Atlantia – Autostrade per l’Italia
The Atlantia Group manages the most extensive toll highway
network in Europe – 3,400 km – used by over four
million drivers every day.
In Italy, the Group serves 15 regions and 60 provinces, but is also
active abroad, in particular through the transfer and
implementation of management and technological know-how developed
in Italy. In Austria it has installed the first national dynamic
multi-lane toll system, while in Great Britain and the USA, the
Group has contributed to the construction of the first private toll
highways.
Atlantia is the main private infrastructure investor in Italy, with
an investment plan for Major Public Works of 12 billion euro.
It is listed on the Milan stock exchange and has a turnover of
about 3.5 billion euro.
Investimenti Infrastrutture
Sintonia holds 85.45% of the share capital of Investimenti Infrastrutture, a company which is jointly owned with the Clessidra private equity fund. Investimenti Infrastrutture has a 29.35% holding in Gemina, the holding company which controls Aeroporti di Roma Spa. Moreover, Sintonia has a 5% direct shareholding in Gemina.
Sagat
Sagat, in which Sintonia has a 24.38% interest, manages Turin airport and controls 60% of Aeroporti Holding, which, in turn, owns 31 per cent of Florence Airport. Turin and Florence are part of a plan to build a network of integrated Italian airport terminals, capable of offering modern services with high added value.
Telco
Telco holds 24.5% of Telecom Italia, the largest Italian group and one of the leading worldwide operators in the telecommunication sector. Sintonia is present with 8.4% of Telco capital, together with Telefonica S.A. (42.3%), Mediobanca (10.6%), Intesa SanPaolo (10.6%) and Assicurazioni Generali (28.1%).
Real estate and agriculture
Edizione owns and manages real estate assets in the main Italian cities, as well as significant agricultural enterprises, in Italy (the Maccarese farm near Rome extends to over 3,000 hectares) as well as in Argentina (its Argentinean farms in Patagonia cover a territory of about 900,000 hectares, with over 280,000 heads of livestock).
Other activities
The sub-holding of Edizione, 21 Investimenti, established as a merchant bank, is now a satellite system for closed-end investment funds with an industrial approach, which focuses its business on minority shareholdings in medium-sized companies with a high growth potential. Its shareholders include IntesaBCI, Gruppo Seragnoli, Fininvest and Assicurazioni Generali. 21 Investimenti embodies a solid network of skills and international relationships, able to focus its attention on those sectors and countries which, at a given time, offer strong development prospects.
June 2009