Private equity firm eyes Hellenic

Tina Milton

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Reports indicate private investment company BC Partners plans to purchase a stake in Hellenic Duty Free Shops

Private equity firm BC Partners is keen to acquire a stake in Greek retailer Hellenic Duty Free Shops, according to local reports. When contacted by RavenFox.com, Hellenic declined to comment on the speculation.

Hellenic, which is 49% owned by Folli Follie and Germanos, runs about 80 stores. The company posted a year-on-year increase in turnover of 12.6% to €97.9m ($118m) in the first half of 2005. Across Hellenic's store portfolio, duty-free accounted for 56.6% of sales and duty-paid for 43.4%. Sales at Athens International airport represented 32.8% of total sales, while other airports accounted for 22.6%, border sales 37.4%, ports 5.7% and wholesale 1.5%.