LS travel retail Asia Pacific purchases Duty Free Stores Wellington Limited
The travel retailer today announced a 100% share purchase of Duty Free Stores Wellington Ltd (DFSWL). The acquisition will see LS travel retail assume responsibility for duty free operations at Gold Coast and Adelaide airports, as well as Queenstown, Dunedin, Hamilton and Rotorua airports in New Zealand.
The deal also includes the company’s successful online duty free business and downtown Hamilton store.
Speaking of the announcement Dag Rasmussen, Chairman and CEO of Lagardère Services said “The purchase of DFSWL is an important and exciting step in our development within the Asia-Pacific. It is a physical manifestation of our duty free strategy–a commitment that will see us rapidly evolve our duty free footprint and capabilities in the region. Added to our existing duty free operations at Noumea Airport, the acquisition of DFSWL is the ideal platform for growth and an opportunity for us to bring our international standards and approach to duty free retailing to the Asia-Pacific”.