Log in or Register for enhanced features | Forgotten Password?
White Papers | Suppliers | Events | Report Store | Companies | Dining Club | Videos
Specialist Retailers
Duty-free Retailers
Return to: RBR Home | Specialist Retailers | Duty-free Retailers

Private equity firm Advent to sell stake in Dufry

RBR Staff Writer Published 16 January 2013

Private investment firm Advent International is planning to sell its entire equity in Dufry, a travel retailer that is listed in Switzerland and Brazil, for $498m.

Advent acquired the retail chain in 2004. It has now appointed American financial service provider Morgan Stanley as lead manager to facilitate the placing of 3.9 million shares, reported Reuters.

The investment firm is scouting for potential buyers to acquire its interest, which is equivalent to 13% of the retailer's capital.

Earlier in 2012, Dufry acquired majority stake in Russian duty free stores operator RegStaer Group after merging with Hudson Group in 2008.

Currently, it has over a 1,000 duty free stores in airports and seaports, onboard cruise liners, and at other touristic locations across 45 countries.

It also operates boutiques carrying various brands such as, Hermes, Armani, Victoria Secret, Lacoste, Omega, and Bulgari. Dufry offers perfumes, cosmetics, wines, spirits, tobacco, food, watches, jewelry and accessories, among others.