Dufry Group has consolidated its presence at Russia’s airports with the closing of the acquisition of RegStaer Vnukovo.
The globe’s leading travel retailer took a 60% stake in RegStaer Vnukovo, which runs duty free and duty paid shops at the country’s third largest airport by passenger volume, in June.
Full absorption of the new entity into the Dufry portfolio will complete this month.
RegStaer’s operations at Vnukovo International Airport span more than 30 stores covering core categories and fashion and accessories over a footprint exceeding 6,800sq m.
It has a long-term concession until 2035 and accrued revenue of €58.8m/$69.4m in 2018.
Dufry is already active at Sheremetyevo and Domodedovo Airports in Moscow and at St Petersburg, Sochi and Krasnodar.
In a statement, Dufry says the acquisition of RegStaer Vnukovo ‘will allow it to extract operational efficiencies through the integration of the management offices of its operations in the Moscow area’.
It took a 51% share of the RegStaer Group in 2012.