With the acquisition of Nuance Group, Swiss based travel retail group Dufry reaches a global market share of 15% with a presence in 63 countries and 239 airports.
Nuance Group is the sixth world player in travel retail. In 2013, Nuance Group generated revenues of CHF 2.1 billion (EUR 1.7 billion).
The acquisition by Dufry was funded with a combination of equity and debt: a capital increase of about a thousand million Swiss francs (820 million euro) and the opening of a new line of credit for 550 million Swiss francs (451 million euro).
At the same time the private equity fund PAI Partners and the Italian Gecos (financial holding company that owns the group Pam) exited the Nuance Group. The two partners controlled Nuance since 2011, when the company buyout transaction was valued at 676 million francs (555 million euro).
Dufry at Sao Paulo International Airport
More from NEWS
Major luxury brands resume deliveries to SAKS Global despite ongoing bankruptcy
Saks Global Enterprises said hundreds of brands, including Burberry and those owned by luxury powerhouses LVMH and Kering, have either …
Bernard Arnault’s LVMH stake supasses 50%
The Arnault family, which has taken advantage of a slump in LVMH shares amid a luxury industry slowdown to accumulate …
Aston Martin to launch luxury residences in Brazil
Aston Martin today announces a new Interiors by Aston Martin luxury multi-unit residential development in partnership with the largest privately …
