June 13, 2014 - Assignment

Dufry acquires the Nuance group

The Dufry group has entered into an agreement to acquire the Nuance group for approximately USD 1.7 billion. 

Dufry is a leading global travel retailer operating around 1,400 duty-free and duty-paid shops in, inter alia, airports, cruise lines and seaports in America, Europe, Africa and Eurasia. The Nuance group, also operating in the travel retail field, is the world’s 6th largest duty free and travel retail group by sales volume. Dufry and Nuance had in 2013 a combined market share of close to 15 per cent of the global airport retail industry based on turnover.

Dufry was advised by Mannheimer Swartling on Swedish law aspects of the transaction. The firm’s team consisted of Mattias Karlsson, assisted by Jon Rastad.