Leading global travel retailer, The Nuance Group, announced that it plans to acquire 80% of Lenrianta LLC, subject to antitrust approval, following its concession win at Pulkovo Airport, St Petersburg, earlier this year.

The Nuance Group was awarded a seven-year duty free concession valued at $1,072m (€800m) in February after entering into discussions with Lenrianta, which is currently the main retail operator at St Petersburg Pulkovo Airport.

Andrea Belardini, CEO Europe and Global Chief Commercial Officer told TRBusiness.com: “Lenrianta provides Nuance with local expertise, so this is a very good move for us.”

In a short statement issued to the press, he added: “We worked in a close partnership with Lenrianta during the St Petersburg tender process, and I am convinced that this planned acquisition will give us the right strength to start from day one, developing our new retail business in the market that we are targeting for future growth.”

‘STRONG SENSE OF PLACE’

Anatoly Shashin, Director General of Lenrianta LLC said: “We are delighted to conclude this agreement with Nuance, who is recognised as one of the leading international duty free retailers. We believe that Nuance’s considerable retail expertise and knowledge combined with Lenrianta’s 24 years experience of the local market will provide a solid foundation for building a very successful business for the next seven years in the new terminal.”

The new concession at Pulkovo Airport will commence in early 2014, and will consist of over 3,000sq m of retail space to be located in a newly built passenger terminal. Nuance’s new retail concept is tailored to Pulkovo Airport with a strong tie to cultural, historic and architectural heritage of St Petersburg.

Belardini told TRBusiness.com that there would be a strong sense of place at the Russian Airport. “Our ‘Venice of the North’ concept coupled with our wealth of global expertise and business knowledge really won them over.”