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NETHERLANDS. Schiphol Group has sold a 60% stake in travel retail arm Schiphol Airport Retail to Gebr Heinemann. The companies have established a joint venture to operate the airside liquor, tobacco and confectionery business at Amsterdam Airport Schiphol.
Schiphol Group will retain 40% of the shares and the joint venture will continue to operate under the name of Schiphol Airport Retail (SAR).
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In a statement the companies said: “With Gebr. Heinemann as a joint-venture partner, the position of SAR will be reinforced with knowledge and experience in travel retail, e-commerce and logistics topped with clear end-consumer focus and expertise. SAR will be certain to respond well to rapid future developments in the international travel retail market and changes in needs and demands of travellers.”
As a result of the move, Schiphol Group expects to generate a book profit in the first half of 2015.
SAR operates six stores at Schiphol and had a turnover of around €85 million in 2014.
We’ll bring you more on this breaking story soon.
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Schiphol Airport Retail’s Exquisite store near Lounge 3 has been acclaimed for its approach to high-end wines, spirits and cigars |
