14.12.2016

ANR 50/2016

FRA - Fraport AG, the owner and operator of Frankfurt Airport (FRA), and trading company Gebr. Heinemann SE & Co. KG have agreed on the establishment of the joint venture 'Frankfurt Airport Retail GmbH & Co. KG'. The new venture, in which both partners are taking a 50-percent share, will operate a total of 27 shops at Frankfurt Airport, of which the majority come under the Heinemann Duty Free & Travel Value brands. Gebr. Heinemann is bringing all previous activities at its Frankfurt Airport location and thus also some 750 employees into the new company. The existing employment contracts will remain valid. Management of the new company will be taken on by Johannes Sammann (Gebr. Heinemann) and Georg Fuhrmann (Fraport AG).

Karl-Heinz Dietrich, Senior Executive Vice President Retail & Real Estate at Fraport AG, welcomes the decision for both companies to collaborate: 'Thanks to the close cooperation and bundled expertise, we expect to further strengthen the retail business at Frankfurt Airport. With this decision, Fraport is taking on a portion of the commercial risk. This also opens up an opportunity for us for more profound value creation.'

'Frankfurt Airport, as the biggest German aviation hub, has developed into our most important German location over the last three decades. We are connected to Fraport AG by an outstanding, long-term collaboration that has existed since 1972 and has consistently been based on innovation, and we are delighted to be able to continue on with this in the joint venture', says Raoul Spanger, Executive Director Retail and HR at Gebr. Heinemann. 'The joint venture makes it possible for us to react jointly and optimally to future developments in the international travel retail market and to the changing needs and demands of travellers, including in the area of e-commerce.'

Right from the start, passengers can enjoy a new shopping service: as a premium partner and first provider on the Frankfurt Airport online platform, the new company will offer not only a reservation option but also a home delivery option for the tempting goods from the Duty Free and Travel Value Shops. Passengers can thus order all goods online before their journey and have them delivered to their homes.

A print-quality photo is available here

Fraport AG and Gebr. Heinemann join forces to set up the subsidiary 'Frankfurt Airport Retail GmbH & Co. KG'

Fraport AG and Gebr. Heinemann join forces to set up the subsidiary 'Frankfurt Airport Retail GmbH & Co. KG'

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2016_12_14_pm_91_joint-venture-fraport-heinemann.jpg

Fraport AG published this content on 14 December 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 14 December 2016 09:38:06 UTC.

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