THE WHAT? Duty-free retailer Dufry has agreed to acquire Italian airport and motorway caterer Autogrill, with Italy’s Benetton family, Autogrill’s largest investor, transferring its 50.3 percent stake to Dufry, according to Reuters.
THE DETAILS Dufry will offer to buy out minority shareholders, with Benetton’s holding company Edizone becoming the combined group’s biggest shareholder with a 20-25 percent stake.
Dufry CEO Xavier Rossinyol will head up the combined group, with Chairman Juan Carlos Torres maintaining his role with the new company.
The two companies had a total market capitalisation of US$5.5 billion last week, with the deal expected to close in Q2 2023. The company will be given a new name.
THE WHY? Speaking in a joint statement, Torres said, “The combination of the two groups will create a new leader in travel experience and allow us to significantly increase our presence in core markets, such as the U.S., and in the travel food and beverage sector.
“This transaction will strengthen our balance sheet, reduce our leverage and create meaningful synergies.”
Aesthetic products generally refer to a broad category of items designed to enhance or improve one's appearance, often focusing on skincare, beauty, and personal grooming. These products are typically used to maintain or enhance physical attractiveness and may include a wide range of items intended for both professional and personal use. Here are some common types of aesthetic products:
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Skincare Products: Including cleansers, moisturizers, serums, and treatments designed to address various skin concerns such as acne, aging, hyperpigmentation, and sensitivity.
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Cosmetics: Makeup products such as foundations, concealers, eyeliners, lipsticks, and eyeshadows used to enhance facial features and achieve desired looks.
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Hair Care Products: Shampoos, conditioners, styling products, and treatments to maintain and improve the health and appearance of hair.
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Fragrances: Perfumes and colognes used to enhance personal scent and attractiveness.
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Dental Care Products: Toothpaste, mouthwash, whitening treatments, and dental floss aimed at maintaining oral hygiene and enhancing smile aesthetics.
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Personal Grooming Tools: Including razors, electric shavers, trimmers, and grooming kits used for hair removal and personal hygiene.
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Beauty Devices: Devices such as facial cleansing brushes, LED light therapy masks, and microcurrent devices designed for at-home skincare treatments.
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Nutritional Supplements: Supplements aimed at promoting skin health, hair growth, and overall well-being, often containing vitamins, minerals, and antioxidants.
