Hudson Group and Dufry have announced a merger, pending regulatory approvals.
Hudson, which has been under majority ownership of Advent International since December, and Dufry are both portfolio companies controlled by Advent.
The merger will give Hudson, which has 540 duty-paid stores in 70 airports and transportation terminals in North America, and its Hudson News brand a global presence; it will also strengthen Dufry’s position in travel retail, as well as its duty-paid segment of the industry. The new company will operate more than 1,000 stores in 137 airports and is expected to generate more than $2. 2B in revenue.
“We are very happy to team up with Dufry’s global operations,” says Joseph DiDomizio, president and chief executive officer of Hudson Group. “As a result of today’s announcement, Hudson and its partners and customers will have access to highly desirable international specialty and designer brands from over 1,000 suppliers worldwide.”
Although Hudson will become a wholly owned subsidiary of Dufry, its current management team will stay in place, and the current setup for Hudson’s existing business will remain the same.
“We are delighted about this transaction,” says Julian Diaz, CEO of Dufry, based in Basel Switzerland. “The combination of Hudson’s retailing expertise and Dufry’s know-how in international markets and global footprint are a perfect match to create a duty-paid news and convenience store concept on an international scale.”
Read more about this merger in the October issue of Airport Revenue News.