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PwC acted as an advisor of Dufry on its journey towards this successful Deal.
The Deal
We are pleased to announce that Dufry, a global leader in Travel Retail, and Autogrill, a global leader in Travel Food & Beverage (F&B), have announced their merger to create a new, integrated global Travel Experience player.
The enlarged Group redefines the boundaries of the industry and is truly path breaking. The combined entity will address 2.3 billion passengers on all continents in more than 75 countries with CHF 13.6 billion revenue and CHF 1.4 billion EBITDA (both figures being 2019 pro-forma, pre-IFRS 16).
We are proud of having advised Dufry on its journey towards this successful Deal. Our support included a wide array of services based on our deep understanding of the industry.
About Dufry
Dufry AG (SIX: DUFN) is the leading global travel retailer operating over 2,300 duty-free and duty- paid shops in airports, cruise lines, seaports, railway stations and downtown tourist areas, in more than 420 locations in 66 countries across all six continents.
The Company, founded in 1865 and headquartered in Basel, Switzerland, is offering customers a first-class shopping experience, global brands, a unique market access and landlords a reliable, value-enhancing partnership. To learn more about Dufry, please visit www.dufry.com.
About Autogrill
Autogrill S.p.A. (XMIL: AGL) is a leading global provider of food & beverage services for travelers, operating mainly in airports, motorways and railway stations with a broad geographical reach. It has a presence in 30 countries on 4 continents, through more than 800 locations and managing approx. 3,300 points of sale. Autogrill, headquartered in Milan, Italy, employs over 34,000 employees. The company manages a wide portfolio of owned and licensed brands (>300), to satisfy the changing needs of customers and landlords. To learn more about Autogrill, please visit https://www.autogrill.com.
The PwC team
The core work was led by the Financial and Tax Deals teams, and supported extensively by local teams in Switzerland, Italy, the US and the Netherlands.
Other team members that actively contributed to the process were specialists in the area of Pensions due diligence, Business plan assessment and modeling review, ESG assessment and Data & Analytics in Deals.
Financial and Tax Due Diligence
- Nico Psarras
- Martin Büeler
- Devinder Singh
- Gabriel Neukomm
