Dufry Completes Hudson Re-Integration

As part of Dufry´s plan to reduce costs and simplify its structure, the company has completed the acquisition of the Hudson shares it didn’t own in Hudson (42.6%) and Hudson has become an indirect, wholly owned subsidiary of Dufry. Following this transaction, Hudson Group has been delisted from the NYSE in December. The integration and delisting of Hudson will further simplify Dufry´s corporate structure and will permit the company to eliminate the costs and complexities of the separate listing. Consequently, Dufry is expected to realize annual cost savings of at least CHF 20 million, thereby further supporting its comprehensive set of already announced cost saving measures, and to improve cash flows going forward.

The integration of Hudson within Dufry however will not change the plan to continue with the successful execution of our strategy for the North American travel retail market, which focusses on operating duty-free and duty-paid convenience shops, as well as the further penetration of the food & beverage market. The closer alignment with headquarters and with other global operations will support the North American business during the recovery period, and the fast implementation of the full re-organization will help Dufry to focus the business on the re-opening and growth acceleration.