Brasif Duty Free


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Brasif Duty Free is the leading airport duty-free operator in Brazil.

Acquired through a co-investment with Advent portfolio company Dufry, a leading global travel retailer, Brasif Duty Free represents a highly strategic asset in one of the fastest-growing duty-free markets in the world. Advent and Dufry also purchased the company’s logistics and purchasing platform, Eurotrade, for a combined enterprise value of $500 million.

Founded in 1978, Brasif Duty Free operates 51 stores, including 29 duty-free and 11 duty-paid shops in Brazilian airports, and 11 domestic retail stores. The company has exclusive agreements with leading brands such as GAP, Banana Republic, Acqui di Parma and Victoria’s Secret to sell their products in Brazil and the Latin American travel retail market.

By expanding domestically and capitalizing on organic market growth, Brasif Duty Free has increased revenue 33% a year over the past three years to $262 million in 2005, with duty-free making up 87% of group sales. EBITDA has also grown rapidly during the same period. The company has a total retail surface of approximately 12,000 square meters and employs over 1,500 people.

The acquisition of Brasif Duty Free, gives Dufry, a multinational company listed on the Swiss stock exchange, a major foothold in South America and will serve as its base of operations in the region. Dufry will combine its proven execution capabilities in travel retailing with Advent’s local domain knowledge and contacts to build significant value in the business. Key areas of focus include joint purchasing, streamlining logistics, optimizing the merchandize assortment and store layout, and increasing sales in departure stores.



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Patrice Etlin

Managing Partner , Advent do Brasil Consultoria e Participacoes Ltda., São Paulo
T: +55 11 3014 6800

Luis Solórzano

Managing Director, Advent International PE Advisors S.C, Mexico City
T: +52 55 5281 0303