RUSSIA. Dufry has successfully closed the acquisition of its 60% stake in RegStaer Vnukovo announced in June 2019.
The newly acquired entity will be fully consolidated within the Dufry business this month.
The RegStaer operation at Vnukovo International Airport enjoys a long-term concession until 2035 and generated sales of €58.8 million in FY 2018. The business includes more than 30 duty free and duty paid shops.
The deal strengthens one of Dufry’s most successful international partnerships, started in January 2012 when the international retail giant acquired 51% of a joint venture with Regstaer Group’s business at Sheremetyevo International Airport.
RegStaer has proved to be one of Dufry’s most reliable and trusted partners. Dufry CEO Julián Díaz and the much-respected RegStaer Founder and Chairman Alexander Baev enjoy a close personal relationship, a bond that has helped drive a highly successful alliance over recent years, one underlined by today’s announcement.
Vnukovo, which handles around 22 million passengers annually, is one of the three most important airports in the Russian capital, Moscow.
Dufry noted that the acquisition will allow operational efficiencies through the integration of the company’s Moscow management offices (Dufry is also present at the city’s Sheremetyevo and Domodedovo airports).
“With the closing of this transaction, Dufry has further consolidated its position in Russia, which includes the existing operations in St. Petersburg, Sochi and Krasnodar, thus fostering its ongoing growth strategy,” the company said.