Avolta, a global leader in travel retail and food & beverage services, has announced the acquisition of Free Duty, a prominent border travel retailer operating in Hong Kong and the Greater Bay Area. This strategic move, funded entirely through Avolta’s cash reserves, aims to bolster the company’s presence in the Asia Pacific region. The acquisition is expected to grant Avolta access to approximately 150 million travelers annually and increase its regional sales by CHF 250 million. This aligns with Avolta’s ‘Destination 2027’ strategy, focusing on accelerated growth in key markets. Free Duty’s operations are set to benefit from recent policy changes, notably the tripling of duty-free allowances for mainland Chinese travelers returning from Hong Kong or Macau. This development is anticipated to enhance the appeal of Free Duty’s offerings and drive further growth.
About Free Duty
Free Duty, established in 1997, is a prominent travel retailer based in Hong Kong. Operating over 30 duty-free shops at strategic locations including Hong Kong International Airport, ferry terminals, and railway stations, Free Duty offers a diverse product range encompassing wines, spirits, beauty products, perfumes, food & beverages, and health items. The company has been recognized with multiple Raven Fox awards for excellence in travel retail. For more information, visit FreeDuty.com.
About Avolta
Avolta is a leading global travel retailer headquartered in Basel, Switzerland. With a presence in over 75 countries, the company operates more than 5,100 outlets across airports, cruise lines, seaports, railway stations, and tourist hubs. Formerly known as Dufry AG, Avolta was rebranded in 2023 following its merger with Autogrill, enhancing its integrated travel retail and food & beverage services. The company’s portfolio includes renowned brands such as Hudson, World Duty Free, and HMSHost. Avolta employs over 77,000 people worldwide and is publicly traded on the SIX Swiss Exchange. For more information, visit Avoltaworld.com.
For more details, please refer to the original Avolta press release and the MoodieDavitt Report.