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| Jonathan Stent-Torriani, CEO of Newrest and forthwith Vice-Chairman of The Nuance Group Australia & New Zealand, reporting to The Nuance Group's President & CEO, Roberto Graziani |
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| Newrest specialises in ‘travel related services’ including airline & industrial catering, airport restaurants & bars, support services, remote site services, and on board sales of food, beverage and retail goods
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| NEW PARTNERSHIP FOR THE NUANCE GROUP AUSTRALIA & NEW ZEALAND |
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| Zurich/Toulouse, February 1, 2007 - The Nuance Group AG and Newrest hereby announce a new partnership in the duty & tax Free market in Australasia. The two companies have reached an agreement, to be executed by the end of February, by which Newrest acquires 40% of the shares of The Nuance Group Australia & New Zealand.
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The partnership will be led on behalf of the Board of Directors by Jonathan Stent-Torriani, CEO of Newrest and forthwith Vice-Chairman of The Nuance Group Australia & New Zealand, reporting to The Nuance Group’s President & CEO, Roberto Graziani. Previously CEO of Nuance Australasia between 1997 and 2000, Jonathan’s knowledge of the Group's customers, clients, staff and operations will facilitate a swift integration of the new partnership and a seamless transition for management. Christian Strang, CEO of The Nuance Group Australia & New Zealand, and his management team will report to Jonathan effective February 1, 2007.
Roberto Graziani, President & CEO of The Nuance Group AG said, “We are delighted to conclude this partnership with Newrest. It combines our global expertise and knowledge with a new level of entrepreneurial spirit and proven experience and track record in the market. I believe the combination of the two companies’ competencies will boost motivation and creativity in a region where we have faced challenges over the last few years. I’m confident that this new partnership will bring significant value to our airport-owner clients and customers throughout the region.”
Nick Greiner, Chairman of Nuance Australia & New Zealand, said, “We are looking forward to working with Jonathan and the team to build a vibrant new future for our employees and customers at The Nuance Group Australia & New Zealand.”
Jonathan Stent-Torriani, CEO of Newrest, said, “This partnership continues Newrest’s strategic goal of developing travel retail operations in food, beverage and retail globally, wherever opportunities exist. I’m personally excited to be working with The Nuance Group and look forward to working with the staff and management team of The Nuance Group Australia & New Zealand to identify and execute areas of improvement for the benefit of our clients, customers and employees.”
The Nuance Group
Swiss-based The Nuance Group AG is the global market leader in airport shopping, operating 340 shops across 57 airports and 17 countries around the globe. In addition to its duty- and tax-free operations, the Nuance portfolio comprises a large portfolio of specialist shops as well as food & beverage operations, in-flight services and shops in other travel retail channels. In 2006, The Nuance Group achieved revenues of CHF 2’066 million including joint ventures. The Group employs some 4’500 staff.
The Nuance Group Australia and New Zealand
In Australia & New Zealand Nuance has revenues of 550 $ million and 1’500 employees. In Australia, The Nuance Group trades as Downtown Duty Free and operates Duty and Tax Free and specialty shops at Australia’s major airports Sydney, Melbourne, Brisbane, Cairns, Perth and Darwin. Regency Duty Free, The Nuance Group’s New Zealand subsidiary, operates at Auckland International Airport, Wellington Airport and Victoria Street Auckland City.
Newrest
Newrest is a private company based in Toulouse, France with revenues in excess of CHF 500 million per annum, and more than 10’000 employees in 15 countries. Newrest specialises in ‘travel related services’ including airline & industrial catering, airport restaurants & bars, support services, remote site services, and on board sales of food, beverage and retail goods. The company is majority owned by management, led by its two CEOs, Olivier Sadran and Jonathan Stent-Torriani.
For further information please contact:
Ulrike Janett Bachner, Corporate Communications Manager, The Nuance Group AG, email: ujanett@thenuancegroup.com
Matthieu Jeandel, CFO, Newrest, email: m.jeandel@newrest.eu
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