Dufry Group sale imminent

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Swiss travel retailer Dufry has confirmed that it is to be sold within weeks, following a notice that investment firm Advent International is to acquire the company

Swiss travel retailer Dufry has confirmed that it is to be sold within weeks. Although a spokesman could not confirm further details, a German regulatory website named the buyer as Advent International, an investment firm with existing interests in Mexican operator Aeroboutiques de Mexico and Spanish caterer and travel retailer Areas.

A press release issued by Dufry stated that the transaction "depends on recieving some administrative authorisations, starting from February 10, 2004 and for a short interim period".

Advent International's retail interests span the globe, with several high street names in both the UK (HMV, New Look, Vision Express) and the US (Dollar Express, Kirkland's, Tweeter Home Entertainment). The group has been active in the sector for 14 years and typically invests between Eu20m-Eu200m ($26m-$256m) in companies, with a view to financing organic or acquisition-led growth, international expansion and joint ventures or partnership with other industry leaders.

A spokesman from Advent International's western European office declined to comment, saying that the company's policy was to announce deals only once they had been completed.

www.adventinternational.com

www.dufry.ch

More details and reaction to follow throughout the week.