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Avolta Drives Caribbean Expansion with Majority Stake in Penha Duty Free Group
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Avolta drives Caribbean expansion with majority stake in Penha Duty Free Group
The famed Penha flagship department store in Curacao is Unesco World Heritage-listed CARIBBEAN. Avolta has bolstered its regional presence through the acquisition of a majority stake in Penha Duty Free Group, the Caribbean’s largest beauty retailer. Initially, Avolta will acquire a 51% stake in the Penha family-owned business, which also claims to be the region’s biggest duty-free retailer. Penha Duty Free operates 25 retail locations across Aru…
Penha Duty Free Group operates 25 outlets in Aruba, Bonaire, Curacao, Grand Cayman and St. Maarten.
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