GERMANY/CZECH REPUBLIC. Gebr. Heinemann has acquired Unimex Group’s shareholding in Travel Free s.r.o., making the Czech land border retailer a 100% subsidiary.
Gebr. Heinemann and Unimex founded Travel Free as a joint venture in 2004 and have jointly managed it since then.
Travel Free operates 20 shops on the Czech land border. The deal with Unimex was signed recently in Prague.
The Travel Free border shops offer multiple categories, including tobacco, coffee, spirits, perfume, cosmetics, confectionery and regional specialties.
Travel Free also operates 29 border shops in Romania, Bulgaria and Poland, which are not affected by the purchase. They will continue to be operated by Gebr. Heinemann, some in joint ventures with local partners.
The takeover will not result in any changes of management or employees, Gebr. Heinemann said. Current Travel Free Managing Director Pavel Monhart will remain responsible for the Czech border shops. He will report directly to Gebr. Heinemann Director Sales Central & Southeast Europe Christoph Stump.
Stump commented: “We thank Unimex for the many years of very trusting and productive cooperation. The Czech market now counts for more than half the Travel Free shops in Eastern Europe, making it a substantial core market for us.”
Gebr. Heinemann Co-CEO Raoul Spanger commented: “Border shops are an important channel for Gebr. Heinemann. The acquisition is a strategic investment and is embedded in our diversification strategy. We are convinced that there is a lot of potential since border shops are experiencing strong growth and attract new brands and customers.” ✈
