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Carlo Bernasconi: “By establishing a strategically important foothold on its southernmost borders, Nuance is further strengthening its position in Europe.” |
MALTA. In a joint venture with two Maltese partners, The Nuance Group has acquired the Maltese airport retailer Air Supplies & Catering Company, which currently operates two duty free shops at Malta International Airport.
The concession is valid until the end of 2014, with an extension granted to 2017.
Nuance joined forces with Airport Investments Ltd and M. Demajo (Holdings) Ltd and today signed an agreement for the purchase of Air Supplies & Catering Company Ltd.
Nuance is the majority shareholder, with the two Maltese partners equally dividing the remainder of the shares between them. Under the new ownership, the company will be called The Nuance Group (Malta) Ltd.
Nuance Malta will be operating two shops at Malta International Airport, the main departure shop as well as an arrivals shop. One additional departures shop is scheduled to be constructed in the near future. The product categories sold in departures are perfumes, tobacco and liquor; the arrivals shop offers all categories. The company employs 61 staff. Nuance Malta will take over the operation with immediate effect.
The Nuance Group Executive Vice-President Business Development & Strategic Marketing Carlo Bernasconi said: “We are delighted about this partnership with two well-established Maltese companies. Together, we are perfectly positioned to successfully operate the retail concessions at Malta International Airport. By establishing a strategically important foothold on its southernmost borders, Nuance is further strengthening its position in Europe. We look forward to offering our customers a truly exciting retail experience by combining the best of international brands with authentic local offers.”
THE MOODIE REPORT BACKGROUNDER
The Nuance Group is the world’s largest travel retailer, operating 320 shops at 56 airports in 16 countries and providing 4,700 full-time jobs (for 5,300 employees). The company is jointly owned by the Italian shareholders GECOS/Gruppo PAM (www.gruppopam.it) and Stefanel (www.stefanel.it).
Airport Investments Ltd belongs to the Bianchi Group of Companies, a private, family-owned and controlled group which has diversified into many different areas and activities both in Malta and abroad. Airport Investments Ltd acquires, transfers, assigns, grants rights over, holds, develops, manages and administers movable or immovable property including shares, equity, stock, debentures or other patrimonial interests in Malta Airport and other companies.
The M. Demajo Group/ Demajo Holdings Ltd belongs to the M. Demajo Group of Companies, a private, family-owned and controlled company which has diversified into many different areas and activities in Malta and abroad. The group is active in manufacturing, industrial services, contracting, technology transfer, tourism & leisure services and in retail/wholesale services.
MORE STORIES ON THE NUANCE GROUP
Nuance names new CEO for European organisation – 22/11/05
Nuance chews on first-year F&B success at Changi – 21/11/05
The Nuance Group expands Zurich Airside Center retail offer with new Bally-Burberry shop – 08/11/05
