Trbusiness. The travel retail Trbusiness. The magazine for global retail and duty free professionals.PAI acquisition of Stefanel stake complete
By Doug Newhouse |
The Nuance Group announced the completion of PAI Partners acquisition of Stefanel SpA’s 50% shareholding in the company last night and a new Board will now be appointed, to be chaired by Swiss businessman Josef Felder. He has 20 years in the aviation industry and was formerly the Ceo of Flughafen Zürich AG.
Commenting on the closing of the sale to the European private equity firm, Roberto Graziani, President and Ceo of The Nuance Group thanked Guiseppe Stefanel at Stefanel SpA, while offering his personal appreciation to him for the key role he has played in supporting The Nuance Group over the past eight years.
Looking forward, Graziano added: “Together with our owners, GECOS/Gruppo PAM and PAI Partners, we are entering into a new and exciting chapter of our growth and development as one of the world’s leading travel retailers.
“With the combined expertise of our shareholders and Nuance’s skilled and dedicated team we are well placed to meet the challenges ahead, and achieve our ambitious objectives in the months and years to come,” he added.
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