Avolta acquires majority stake in Penha Duty Free Group Freitag, 07. August 2026 - 06:35

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Basel, Switzerland
August 07, 2026

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Avolta acquires majority stake in Penha Duty Free Group

Avolta (SIX: AVOL) announces the acquisition of a majority stake in Penha Duty Free Group, a duty-free operator in the Caribbean.

Penha Duty Free Group operates 25 points of sale across Aruba, Bonaire, Curacao, Grand Cayman and St. Maarten, serving domestic and international travelers in airport, cruise ports and downtown retail locations. The business operates under long-term concession agreements, with a weighted average remaining duration of more than 10 years. In 2025, it generated revenues of approximately CHF 47 million. 

The transaction strengthens Avolta's presence in attractive Caribbean leisure destinations, adding a well-established travel retail platform with a diversified presence across multiple channels and further enhancing Avolta's position in the region.

The transaction is consistent with the company’s capital allocation framework, focusing on disciplined, value-accretive investments. It is funded with available cash on balance sheet, has a negligible impact on leverage (less than 0.01x) and is expected to be immediately accretive to EBITDA margin, earnings per share, equity free cash flow and ROIC.

In a first step Avolta acquires a 51% stake in the business. The transaction provides a contractual pathway to 100% ownership by Avolta

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About Avolta

Avolta AG (SIX: AVOL) is a global leader at the intersection of travel retail and food & beverage, delivering integrated shopping and dining experiences across airports, motorways, cruise lines, ferries, rail and other high-traffic travel locations worldwide.

Avolta’s global workforce operates in more than 70 countries and across nearly 1,000 locations, managing around 5,100 points of sale. Its traveler-centric strategy is built on digital, data and continuous innovation, while its scale and reach, across multiple travel environments, strengthens resilience and underpins consistent operational and financial performance.

To learn more about Avolta, please visit avoltaworld.com