Avolta AG Avolta acquires majority stake in Penha Duty Free Group

Penha Duty Free Group operates 25 points of sale across Aruba, Bonaire, Curacao, Grand Cayman and St. Maarten, serving domestic and international travelers in airport, cruise ports and downtown retail locations. The business operates under long-term concession agreements, with a weighted average remaining duration of more than 10 years. In 2025, it generated revenues of approximately CHF 47 million. 
The transaction strengthens Avolta's presence in attractive Caribbean leisure destinations, adding a well-established travel retail platform with a diversified presence across multiple channels and further enhancing Avolta's position in the region.
The transaction is consistent with the company’s capital allocation framework, focusing on disciplined, value-accretive investments. It is funded with available cash on balance sheet, has a negligible impact on leverage (less than 0.01x) and is expected to be immediately accretive to EBITDA margin, earnings per share, equity free cash flow and ROIC.
In a first step Avolta acquires a 51% stake in the business. The transaction provides a contractual pathway to 100% ownership by Avolta

For further information:
CONTACT
 

Rebecca McClellan	Cathy Jongens
Global Head Investor Relations	Director Corporate  Communications
Phone : +44 7543 800 405	Phone : +31 6 28 19 88 28
rebecca.mcclellan@avolta.net	cathy.jongens@avolta.net