Dufry acquires 10% stake in the Hudson Group

Nicole Mezzasalma

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The Swiss company has also signed new travel-retail contracts in Italy and the Czech Republic

Swiss travel retailer Dufry Group has acquired a 10% stake in the Hudson Group, which has 550 shops in 69 airports and transportation terminals in the US and Canada, over 400 of which are Hudson News convenience stores, and recorded turnover of $630m in 2007. Dufry said in a statement it will use its investment in the US company “to develop its strategy of convenience stores focused on domestic passengers and will mainly target markets where Dufry already operates today”.

Dufry also announced an agreement to operate seven duty-free shops covering 550sq m (5,381sq ft) in total at Prague Ruzyne International airport, the only international airport in the Czech Republic. The stores will offer a full assortment of products to the about 12m passengers that go through the airport every year. According to Dufry, the business is operated with a local partner “who will support Dufry’s development in the Czech Republic”.

Elsewhere, the Swiss company signed a contract with Grandi Stazioni SpA to operate shops in four railway stations in Italy with a total retail surface of 4,084sq m (43,960sq ft). The outlets in Milan and Turin are due to open in the summer, while the shops in Florence and Naples are scheduled for 2009.

Dufry CEO Julian Diaz said: “Following our strategy of profitable growth, we are excited about our various new projects. We consider the investment in Hudson Group of strategic importance for Dufry as Hudson Group has an excellent knowledge of the duty-paid convenience/newsstand business and has a strong position in the US travel-retail market. Equally, the new projects in the Czech Republic and Italy are an important step to expand our activities in Europe. They fit very well into our concession portfolio and leverage our franchise in Europe.”