Dufry has concluded the acquisition of The Nuance Group based on a consideration of CHF 1.55 billion, announced yesterday the travel retail operator. The combination of both companies will confirm Dufry as the global leader in the travel retail industry with presence on 5 continents and in 63 countries, as well as at 239 airports, managing and operating close to 1,750 shops.
Dufry is now starting the integration of Nuance into its organisation and expects to generate first synergies in 2015, with full improvement of approximately CHF 70 million per year being reached by 2016.
“The combination of Dufry and The Nuance Group strengthens our concession portfolio. It further adds countries and operations that fit well with Dufry’s regional strategy. Thanks to the Nuance acquisition, we increase our presence in Asia, the Mediterranean region, northern and central Europe, and North America,” said Julian Diaz, Dufry’s CEO.