NEW ZEALAND. James Richardson and The Nuance Group today jointly announced that negotiations have been completed for the acquisition by James Richardson (trading as JR Duty Free) of all Nuance’s business operations in New Zealand.
The transaction is effective from 1 July 2009.
It includes the duty free business at Wellington Airport under the Regency brand; Regency Internet Sales; Discover New Zealand speciality stores at Wellington and Christchurch airports; and Regency’s wholesale business.
The agreement also includes Regency’s duty free business at Auckland Airport until 3 August when JR Duty Free becomes the second retailer (alongside DFS) at the airport.
The companies said that the acquisition was a consequence of the appointment of James Richardson as the second duty free retailer at the country’s main gateway in April this year.
“It is consistent with James Richardson’s growth strategy in the Australia and New Zealand region,” said James Richardson Chief Executive Officer Milton Lasnitzki.
The Nuance Group Australia & New Zealand CEO Jann Fisch added: “We are pleased about this agreement with James Richardson regarding our New Zealand operation, especially since we hope that the majority of our staff, who have been doing an excellent job for us over all these years, will be able to find employment with our successor. We wish them all the best of success for their future.”
MORE STORIES ON JAMES RICHARDSON DUTY FREE
Auckland Airport puts final touches to dual-retailer model; aims for ‘world-class’ offer – 09/04/09
Auckland Airport selects James Richardson as its preferred second duty free retailer – 18/02/09
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