US. Duty Free Americas (DFA), one of the largest duty free operators in the US, has been given a US$60 million credit facility by the Retail Finance Group, part of GMAC Commercial Finance.
In a statement, Retail Finance Group Managing Director Robert J. Shusterman said: “We are very pleased to provide this new facility to DFA and contribute to their continued success.”
“DFA is a world-class organisation and we are extremely confident in their ability to execute,” added Senior Managing Director Andrew H. Moser.
Commenting on the new facility, DFA Chief Financial Officer Timothy P. McCloskey said: “We are very happy to have GMAC CF as the agent for our US$60 million senior revolving line of credit and we look forward to a long term-relationship.”
DFA operates 90 stores and kiosks through three divisions:
– Airport Division: 31 duty free stores and kiosks in 12 international airports in the US.
– Southern Border Division: 30 duty free stores at every significant border crossing on the US/Mexico border. The stores are in Texas, Arizona and California.
– Northern Border Division: 29 stores along the US/Canadian border from Calais, Maine to Blaine, Washington.
MORE STORIES ON DUTY FREE AMERICAS
Duty Free Americas sales at New York airports buoyed by soft Dollar and heavy investment – 03/03/05
Duty Free Americas Chairman keeps his options open as Atlanta duty free contract takes another twist
Relief for Duty Free Americas as it settles bond dispute – 17/11/03
