At what enterprise value was THE NUANCE GROUP acquired in 2014?

During the acquisition of THE NUANCE GROUP by AVOLTA in 2014, the company was valued at an estimated revenue multiple of below 5x. The transaction's Enterprise Value is estimated to be in the range of 1b - 4b CHF. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Retail & Consumer industry currently tracks an average EBITDA multiple of 11.0x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of THE NUANCE GROUP when it was acquired by AVOLTA?

The estimated EV/EBITDA multiple for THE NUANCE GROUP is in the range of 5x - 12x. For comparison, the Retail & Consumer sector currently shows an average EBITDA multiple of 11.0x. Join our community for free to access full valuation data and industry trends.

When was THE NUANCE GROUP acquired by AVOLTA?

THE NUANCE GROUP was acquired by AVOLTA in 2014.

What was the revenue of THE NUANCE GROUP at the time of the deal?

The revenue of THE NUANCE GROUP at the time of the deal is estimated to be in the range of 1b - 3b CHF. Register for free to access the full transaction report and exact valuation multiples.

What was the EBITDA of THE NUANCE GROUP during the acquisition?

THE NUANCE GROUP's EBITDA is estimated to be in the range of 100M - 200M CHF. Join our community for free to access complete and exact deal data.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the THE NUANCE GROUP acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the THE NUANCE GROUP deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://www.avoltaworld.com/en/press_release/2014-06-04/dufry-signs-agreement-acquire-100-nuance-group-creating-significant-value

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Home Database Retail & ConsumerTHE NUANCE GROUP

06/2014

THE NUANCE GROUP acquired by AVOLTA

SWITZERLAND Retail / Specialized Retail EV 1b - 4b CHF

Context

Dufry AG has signed an agreement to acquire 100% of The Nuance Group. This transformational operation confirms the group as the global leader in the airport retail industry, reaching a 15% worldwide market share and a combined presence in 63 countries. The strategic rationale centers on the highly complementary nature of the two portfolios, strengthening the group's positioning in key regions such as the Mediterranean, Asia, and North America. Specifically, the acquisition adds significant retail operations in strategic markets like Turkey, Malta, and mainland China, while reinforcing the group's leadership in the United States and Canada. The organization expects to generate approximately CHF 70 million in annual pre-tax cost synergies by 2016 through increased purchasing power and the integration of logistics and support functions. To fund the acquisition, the group has secured a financing package that includes CHF 1 billion in equity through a rights issue and CHF 550 million in new debt. This combination is expected to be robustly accretive to cash earnings per share starting in the 2015 financial year, creating substantial value for the group's global stakeholders.

THE NUANCE GROUP, which reported an EBITDA margin of LOGIN in 2013, is valued in this transaction at an EV/EBITDA multiple of LOGIN, representing a LOGIN to the average currently observed in the Retail & Consumer sector (11.0x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

Based in Zurich, Nuance is a prominent global travel retailer that operates an extensive network of duty-free and tax-free shops, brand boutiques, and specialized concept stores. The organization manages approximately 75,000 square meters of retail space across 66 locations in 19 countries, with a significant presence in Europe, Asia, and North America. Its diverse business model includes the operation of airport retail concessions, an inflight services division, and a wholesale and distribution branch that supports the broader travel retail sector. The company's core focus is on providing a high-quality customer experience through a wide variety of luxury and essential goods, such as perfumes, cosmetics, confectionery, and spirits, tailored to the needs of international travelers. With long-duration concession portfolios in strategic travel hubs like Switzerland, Turkey, Hong Kong, and the United States, the company serves as a pivotal player in the global airport retail industry.

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REFERENCES

Valuation range: EV 1b - 4b CHF

Revenue range: 1b - 3b CHF

EBITDA range: 100M - 200M CHF

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of THE NUANCE GROUP by AVOLTA are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Acquirer: avolta