NETHERLANDS. Dutch electronics chain Royal Capi-Lux is to buy rival retailer Take-Off Multitronics. The price of the deal was not divulged.
Capi-Lux, which aims to become the biggest airport retailer in Europe, and Take-Off Multitronics generate a combined annual revenue of €100 million (US$118.8 million). Both companies have an equal share of the total, Capi-Lux director Jan Okhuijsen said.
Both retailers operate at Amsterdam Schiphol Airport. Capi-Lux trades in Scandinavia and in South Africa, while Take-Off Multitronics is present in countries including Germany and Italy. Jointly, both companies operate in 12 countries, with 55 outlets.
After the takeover, both companies will operate under the name ‘See Buy Fly’ at Schiphol Airport while keeping their own name at other airports for the time being. Operations under the combined Capi name will start soon, Okhuijsen said.
Take-Off Multitronics is managed by Michael van Praag, who will have a consulting role at Capi-Lux.
